by the negotiators of the Trans-Pacific Partnership

“ Implementation of Core Good Regulatory Practices 1. To assist in designing a measure to best achieve the Party’s objective, each Party should generally encourage relevant regulatory agencies, consistent with its laws and regulations, to conduct regulatory impact assessments when developing proposed covered regulatory measures that exceed a threshold of economic impact, or other regulatory impact, where appropriate, as established by the Party. Regulatory impact assessments may encompass a range of procedures to determine possible impacts. ”

“ When conducting regulatory impact assessments, a Party may take into consideration the potential impact of the proposed regulation on SMEs.
4. Each Party should ensure that new covered regulatory measures are plainly written and are clear, concise, well organised and easy to understand, recognising that some measures address technical issues and that relevant expertise may be needed to understand and apply them. ”

“ The Parties further recognise that cooperation between Parties on regulatory matters can be enhanced through, among other things, ensuring that each Party’s regulatory measures are centrally available.
Article 25.8: Engagement with Interested Persons The Committee shall establish appropriate mechanisms to provide continuing opportunities for interested persons of the Parties to provide input on matters relevant to enhancing regulatory coherence. ”