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Trade Organization (WTO), regional trade agreements, and bilateral investment treaties (BITs). To this list, a fourth criterion is sometimes added, namely the ability of the agreement to transform into a pillar of economic governance. See Global Agenda Council on Trade and ForeignDirectInvestment, Mega-Regional Trade Agreements: Game-Changers or Costly Distractions for the World Trading System? (2014) 7, available at http://www3.weforum.org/docs/GAC/2014/WEF_GAC_TradeFDI_MegaRegionalTradeAgreements_Report_2014.pdf ; see also Peter Draper, Simon Lacey & Yash
-tpp-agreement-big-things-are-still-possible . of trade and investment agreement. The agreement is also potentially revolutionary in the depth and breadth of its provisions. TPP countries have proclaimed its significant impact in eliminating “more than 98 per cent of tariffs in the TPP region.” Austl. Gov’t., Dep’t Foreign Affairs & Trade, Trans-Pacific Partnership Agreement: Outcomes at a Glance , 1 (last updated Oct. 6, 2015). See also U.S. Trade Representative, The Trans-Pacific Partnership: Overall US Benefits Fact Sheet: TPP eliminates over 18,000 taxes that various countries impose on Made