Thu. Jul 11th, 2024

Remaining barriers at TPP negotiations

Remaining barriers at TPP negotiations 4
Remaining barriers at TPP negotiations 4

Leading trade negotiators of the 12 countries participating in the Trans-Pacific Partnership (TPP) are meeting in Hawaii (USA), looking for opportunities to soon complete the largest trade agreement in the region.

TPP was negotiated in March 2010, with the participation of 12 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.

Just earlier this week, the US State Department decided to raise its rating for Malaysia’s anti-human trafficking efforts.

Unions in the US are also opposing TPP, and many Democratic Congressmen also threaten to withdraw support for TPP if President Barrack Obama’s administration makes too many concessions to pharmaceutical giants.

Representatives of 12 countries participating in TPP are negotiating in Hawaii (USA).

Canada is still hesitant to open its agricultural market to competition.

Australia is also being especially cautious.

Developed countries are also concerned about labor rights in Mexico, Vietnam and Brunei, human smuggling in Malaysia, deforestation in Peru and many other issues.

Therefore, if it cannot be achieved this week, the TPP will have no chance of being presented to the US Congress until early next year, when the US Congressional and Presidential election season begins.

Because of these challenges, the prospect of reaching an agreement today – as was the original goal of the TPP, remains uncertain.

However, despite the above difficulties, TPP participating parties are optimistic.

The two giants at the negotiating table – the US and Japan – have almost resolved long-standing issues.

Japanese Prime Minister Shinzo Abe also has a relatively strong stance on completing the agreement, to counter China’s growing power.

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