Again, I'll answer briefly and then turn to my colleague Mr. MacKay to add to that.
The Pacific Alliance and TPP are separate initiatives. They're complementary. They have some shared objectives, but involvement in one does not preclude involvement in the other. The composition of the TPP is different from that of the Pacific Alliance. TPP trade negotiations are in advanced stages, having recently concluded the 16th round. The Pacific Alliance is a little newer than that.
I'll turn to Mr. MacKay to talk about how the two agreements are complementary and what the different elements are.