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Steady Progress In TPP Negotiations,
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, June 22, 2010
As the second round of negotiations for the Trans-Pacific Partnership (TPP)
agreement ended in San Francisco, the United States Trade Representative (USTR)
Ron Kirk congratulated all parties on making “significant, positive”
progress during last week’s talks.
The original TPP agreement was signed by New Zealand, Chile, Singapore and
Brunei in July 2005. President Obama confirmed in November last year that the
United States was looking to join in an expanded agreement. Australia, Peru
and Vietnam, as new prospective members, also participated in the first round
of negotiations in Melbourne in March this year.
During the second round of talks, discussions focused on determining the architecture
for market access negotiations, and deciding the relationship between the TPP
and existing free trade agreements (FTAs) among the negotiating partners.
The talks also addressed “horizontal” issues such as small business
priorities, regulatory coherence, and other issues that reflect the way businesses
operate. It made progress toward the tabling of text on all chapters of the
agreement in the third negotiating round, scheduled for October in Brunei.
“The Trans-Pacific Partnership is a launch pad for the Obama Administration’s
intention to dramatically increase American exports to the Asia-Pacific and
create good jobs here at home. We’re in the early stages of these talks,
but our team will be reporting some significant, positive outcomes to Congress
from this week in San Francisco,” said USTR Ron Kirk.
United States involvement in the TPP is predicated on the expansion of the
agreement to include more economies across the Asia-Pacific region. While there
has been no indicated date for completion of the agreement, TPP negotiations
are expected to extend into next year. It was said that a final agreed text
by November 2011, when a Asia-Pacific Economic Cooperation summit is due to
be held in Hawaii, could be useful for President Obama.
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