The 11 remaining countries of the Trans-Pacific Partnership (TPP) could decide to push ahead with the ratification of the agreement hoping that the US will change its mind and rejoin the deal, a Singaporean official has said.
Minister of Trade and Industry Lim Hng Kiang (Source: AFP)
Hanoi (VNA) – The 11 remainingcountries of the Trans-Pacific Partnership (TPP) could decide to push aheadwith the ratification of the agreement hoping that the US will change its mindand rejoin the deal, a Singaporean official has said.
Speaking at Singapore’s parliament on February6, Minister of Trade and Industry Lim Hng Kiang said another choice is pursuinga TPP with 11 members.
However, each TPP partner will have to study thebalance of benefits without the US’s participation, and consider the value ofan agreement among the remaining 11 partners, he stressed.
TPP negotiations concluded in October 2015. Itis waiting for approval of member nations’ parliaments.
If the original agreement, including the US, hadcome into force it would have been the largest regional trade agreement inhistory, covering 40 percent of the world economy.
The 11 remaining TPP members are Australia, Brunei,Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, andVietnam.-VNA
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Minister of Trade and Industry Lim Hng Kiang (Source: AFP)
