Trans Pacific Partnership trade deal signed in Auckland

The Trans Pacific Partnership, one of the biggest multinational trade deals ever, has been signed by ministers from its 12 member nations in New Zealand. The ceremony in Auckland brings the huge trade pact, which has been five years in the making, another step towards to becoming a reality.
But the TPP continues to face opposition. The 12 nations account for some 40% of the world's economy - they now have two years to ratify or reject the pact.

Anti-TPP protestors in Auckland blocked streets and footpaths outside the Sky City convention centre as Thursday's signing ceremony went ahead.

 Australia's minister for trade Andrew Robb was the first to sign the pact. Those attending the ceremony cheered as his counterpart, New Zealand trade minister Todd McClay, added the last signature.

Auckland protestors face police up close on Thursday. Those against the TPP have fears the country's sovereignty could be weakened by it.

Protesters are worried that the TPP is less about jobs and more about big business and corporate greed.

What is the TPP - and why does it matter?
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TPP details made public


The TPP involves the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru. Those against the deal, particularly some Americans, fear it could mean jobs will move from the US to developing countries.

'Write the rules of 21st Century'

However, US President Barack Obama said the agreement was a new type of trade deal "that puts American workers first". "Partnership would give the United States an advantage over other leading economies, namely China," he said in a statement on Wednesday.

"TPP allows America - and not countries like China - to write the rules of the road in the 21st Century, which is especially important in a region as dynamic as the Asia-Pacific," he said.