WASHINGTON – A group of renowned economists has started offering support for accurately analyzing the effects of the Trans-Pacific Partnership multilateral free trade pact.
The Global EPAs Research Consortium, including experts from the World Trade Organization, will provide Japan, the United States and 10 other TPP countries with its sophisticated analytical methods to help them increase the accuracy of policy evaluation, informed sources said.
The 12 countries, which reached a broad agreement on the TPP last October, are working to obtain a persuasive analysis of the pact’s effects, as they promote their respective domestic ratification procedures to put it into effect early.
The consortium, which has its secretariat at the National Graduate Institute for Policy Studies in Tokyo, is offering its estimates on the impacts from the abolition of tariffs and nontariff barriers under the TPP.
Using the group’s technique, the Japanese government has already estimated that the TPP will push up the country’s annual real gross domestic product by 2.59 percent from the fiscal 2014 level.
The consortium plans to make available its analytical methods and data obtained so far.
It also plans to support the analysis of effects from an envisaged economic partnership agreement between Japan and the European Union and the Regional Comprehensive Economic Partnership, or RCEP, for the Asia-Pacific region.