Japan PM Abe welcomes broad agreement on TPP trade deal

10 November, 2017, 12:32 | Author: Eloise Marshall
  • Bid to Save Pacific Rim Trade Pact Comes to a Head

New Zealand's prime minister says talks will go down to the wire on progressing the trans pacific partnership agreement on the sidelines of the APEC conference in Vietnam.

But Canada's Trade Minister Fancois-Philippe Champagne denied that and said reports of an "agreement in principle" are "absolutely not true". She will reiterate her offer to resettle 150 of Australia's refugees - as authorities prepare to move on asylum seekers and refugees still at the closed detention centre, using force if necessary.

"There are clear benefits for our exporters in this agreement", she said.

Ministerial talks on a communique for the APEC leaders were extended into a second day on Thursday in the face of USA demands for changes to the language used concerning issues such as free trade and protectionism, officials at the talks said.

Prime Minister Jacinda Ardern made the surprise announcement in Vietnam on Friday night, revealing Canada had not shown up for the talks between the remaining 11 nations in the TPP. She declined to comment on whether the dispute settlement issue would be a deal breaker, saying she wanted to "maintain and preserve New Zealand's negotiating position".

A senior government official has said Canadian negotiators are seeking changes to the original TPP in several areas, such as its intellectual-property provisions, cultural exemptions and its impact on Canada's supply management system for dairy, poultry and eggs.

Mexico, the TPP's fourth-largest economy, has worked with Japan and others to reach an accelerated TPP pact.

That deal with 16 countries includes those in the TPP. He told business leaders November 6 that TPP was "not the right idea" and he envisioned easing trade restrictions in another way, outside the TPP framework, without going into detail.

Ciobo said the US withdrawal had "changed the metrics" for a number of countries.

Because the US secured numerous concessions during its negotiations, the remaining countries were left to hash out which terms from the original pact to suspend now that Washington has left the table.

The host suggested that Canada recognise Vietnam as a market economy soon, further open its market further to Vietnamese goods and provide more support for the Vietnamese community.

In Thursday's ministerial meeting, a draft of the agreement that Japan, who chaired the meeting with Vietnam, has prepared was the basis of discussions, with a focus on sensitive issues that require political decisions.

"A borderless society is coming, in terms of information", Motegi said, adding: "Of course it's not only about trade in things, but the movement of people and information. Japan can take advantage of that growth - that's an extremely important merit".

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