Finally, the Trans Pacific Partnership (TPP) Agreement will become a reality soon. The final language and texts will take a few more weeks, but the deal has been reached among the original 12 member-economies. Next stage will be ratification by each country, especially in the US Congress.
For free marketers, the best trade arrangement is unilateral trade liberalization, least involvement and restrictions by governments in voluntary trade and exchange among people and private enterprises. Since this is far out from happening, a regional and multilateral FTA is the second-best solution.