Representatives of 12 countries have signed a major free trade agreement for East Asia and the Pacific.The Trans-Pacific Partnership (TPP) was officially signed at a ceremony Thursday in Auckland, New Zealand.News media released pictures of some ministers rubbing noses. For native New Zealanders, rubbing noses is a sign of good will.The nations that make up the TPP are responsible for 40 percent of the world's economy. They include Australia, Brunei, Canada, Chile, Japan and Malaysia.The other nations are Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.In a statement, U.S. President Barack Obama called the agreement a forward-looking trade deal that sets new, high ideals for trade and investment.He said the pact suspends thousands of taxes and supports a free and open Internet. Obama said it also prevents unfair laws that restrict the free flow of information.
