TPP on track for completion this year

The leaders of countries working towards the Trans Pacific Partnership are aiming to have negotiations completed this year:

We, the Leaders of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, are pleased to announce today that our countries are on track to complete the Trans-Pacific Partnership negotiations.  Ministers and negotiators have made significant progress in recent months on all the legal texts and annexes on access to our respective goods, services, investment, financial services, government procurement, and temporary entry markets.  We have agreed that negotiators should now proceed to resolve all outstanding issues with the objective of completing this year a comprehensive and balanced, regional agreement that achieves the goals we established in Honolulu in 2011, ensures the benefits of the agreement are fully shared, and takes into account the diversity of our levels of development.

A final Trans-Pacific Partnership agreement must reflect our common vision to establish a comprehensive, next-generation model for addressing both new and traditional trade and investment issues, supporting the creation and retention of jobs and promoting economic development in our countries.  The deepest and broadest possible liberalization of trade and investment will ensure the greatest benefits for countries’ large and small manufacturers, service providers, farmers, and ranchers, as well as workers, innovators, investors, and consumers.

We see the Trans-Pacific Partnership, with its high ambition and pioneering standards for new trade disciplines, as a model for future trade agreements and a promising pathway to our APEC goal of building a Free Trade Area of the Asia Pacific.  We are encouraged by the growing interest in this important negotiation and are engaging with other Asia-Pacific countries that express interest in the TPP regarding their possible future participation.

Stakeholders across the region have provided valuable input to TPP negotiating teams both on-site at rounds and in our respective countries.  As we work to conclude these negotiations, we will further intensify consultations with stakeholders to craft a final agreement that appropriately addresses the interests of our citizens. We look forward to review and consideration of the outcome of our work, consistent with each of our domestic processes.

This is a significant achievement and shows a big move on the part of major economies like Japan, the USA and Canada which are still highly protected.

Improved access to markets will provide wonderful opportunities for New Zealand and the more countries with which we can trade freely the better able we will be to weather economic storms.

One Response to TPP on track for completion this year

  1. Quintin Hogg says:

    The TPP is a must have as far as some of my clients are concerned. Access to the US and the other markets would be the making of their businesses and would bring about growth that in addition to adding to the bottom line would bring about more employment specifically in the high tech end of the market.

    Unless of course the US falls over in a great big heap on 18 October.

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