TPP continues to be discussed in Japan in September
Chief negotiators from the 11 remaining member countries of the Trans-Pacific Partnership (TPP) trade deal agreed to reconvene in late September in Japan, after three days of talks ended in Sydney on August 30.
Australian Trade Minister Steven Ciobo (Photo: AFP/VNA)
Hanoi (VNA) – Chiefnegotiators from the 11 remaining member countries of the Trans-PacificPartnership (TPP) trade deal agreed to reconvene in late September in Japan,after three days of talks ended in Sydney on August 30.
According to the Kyodo news agency, Japanesechief negotiator Kazuyoshi Umemoto told a press conference that they agreed tomeet in Japan in the hope of reaching a final decision ahead of theAsia-Pacific Economic Cooperation forum summit to be held in Vietnam inNovember.
Umemoto said that as a result of theSydney talks, "common understanding between their various countries hadprogressed."
The September talks would be thesecond time TPP negotiators have met in Japan in three months, followingdiscussions at a hot spring resort southwest of Tokyo in July where membersagreed to a new framework, following the US withdrawal in January.
During the Sydney talks, severalcountries proposed amendments or freezes be made to some elements of the tradedeal, particularly issues surrounding government procurement and the protectionof pharmaceutical intellectual property.
The TPP was signed in February 2016by 12 countries namely Australia, Brunei, Canada, Chile, Japan, Malaysia,Mexico, New Zealand, Peru, Singapore, the United States and Vietnam -- coveringaround 40 percent of the global economy.
But as currently framed, the tradeagreement can only be put into force when ratified by at least six countriesaccounting for a combined 85 percent of the economic output of the initial 12signatory nations -- an impossible hurdle to clear in the absence of the UnitedStates, which alone makes up 60 percent of the total.
Thus the agreement must be revised,and the 11 remaining countries are discussing this.-VNA
The chief negotiators from the 11 Trans-Pacific Partnership countries met on July 12 to discuss how to bring the regional free trade deal into effect following the withdrawal of the United States
The chief negotiators of the 11 Trans-Pacific Partnership (TPP) countries have agreed to aim to put the regional free trade deal into force under a new framework, following the withdrawal of the US, according Kyodo news.
Senior officials from the remaining 11 countries involved in the TPP are meeting in Australia to discuss measures to bring the agreement into effect as soon as possible.
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Australian Trade Minister Steven Ciobo (Photo: AFP/VNA) 
