The US and India have reached an agreement that takes into account Indias domestic concerns about food security. The resulting Bali package, which addresses trade facilitation, agriculture and the issues of least developed countries (LDCs), has restored some degree of faith in the World Trade Organisation (WTO). However, there remains a wide gap between WTO rules and business realities on-the-ground. It is these new 21st century realities such as technology, environment, intellectual property (IP) and finance that are at the core of two ambitious mega-regional trade deals, lead by the United States, a member of both - the Transpacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP). The TPP, with 12 member countries, is estimated to account for over one-quarter of world trade. The TTIP, with 28 countries, makes up almost a third.
Question: The TPP and the TTIP together account for more than 50% of world trade.
Options:
A. true, B. false, C. uncertain
Answer: C