TPP COUNTRIES FORGE AHEAD WITHOUT US

The government officials in charge of trade from the remaining 11 member states of the Trans-Pacific Partnership Agreement have agreed to continue with the agreement, despite US’ withdrawal.

The ministers and deputy ministers are from Australia, Brunei, Canada, Chile, Japan, New Zealand, Malaysia, Peru, Singapore, and Vietnam. They arrived at the conclusion at a meeting on the side-lines of the 23rd meeting of Ministers Responsible for Trade in the framework of the APEC 2017, which took place on May 21 in Hanoi, in order to discuss the TPP.

They agreed that they have to realise the benefits of the TPP and the remaining 11 countries are open to accept additional members provided they accept the trade agreement’s high standards.

The ministers reaffirmed the strategic economic importance of the TPP. They also emphasised that the high standards of the pact is what would push economic integration in the area, contribute to the economic growth of the member states, and create more opportunities for workers, households, farmers, businesses, and consumers.

The ministers assigned their trade officials to prepare an assessment of the options available to realise the TPP. This work should be done before the TPP countries meet again on the side-lines of the APEC Summit in the central city of Danang in November.

Source: VIR