Pacific trade deal possible by end of year

The nations working towards a new Pacific trade pact are hopeful a deal can be stuck before the end of the year, Australia’s lead negotiator says.

Australia was one of nine countries involved in the 11th round of Trans-Pacific Partnership (TPP) talks involving more than 500 negotiators in Melbourne.

Lead negotiator Hamish McCormick says the regulatory coherence, the interests of small and medium size businesses and deepening of regional supply chains were discussed.

“We have made further strong headway,” he told reporters.

“We are looking to conclude this year but we want to have a high quality agreement.”

Interest expressed by Japan, Canada and Mexico in joining the TPP negotiations was also discussed.

“All of us, of course, share the goal of expanding the TPP to include other countries from across the Asia Pacific region,” Mr McCormick said on Friday.

Each of the TPP members have begun bilateral consultations with the Japan, Canada and Mexico and a final decision on new members would be made by consensus of all TPP ministers, he said.

The next round of TPP talks are scheduled for May but the location is yet to be confirmed.

The other nations involved in TPP negotiations are the US, New Zealand, Singapore, Malaysia, Vietnam, Peru, Chile and Brunei.

Views: 0

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes