CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. China 'Open-Minded' On TPP

China 'Open-Minded' On TPP

by Mary Swire,, Hong Kong

14 April 2014

Chinese Premier Li Keqiang has now said that his Government is "open-minded" with regard to the Trans-Pacific Partnership (TPP) trade negotiations presently being led by the United States, despite previous indications that it could be viewed as going against China's interests in the Asia-Pacific region.

At the opening ceremony of the annual Boao Asia Forum, Li disclosed that, "as long as the TPP is conducive to the development of world trade and to a fair and open trading environment, China is happy to see its conclusion."

As regards the completion of regional trade initiatives, China is concentrating on the Regional Comprehensive Economic Partnership (RCEP), which aims to bring together the Association of Southeast Asian Nation's (ASEAN) existing free trade agreements into a single comprehensive agreement by the end of 2015.

Li insisted that China is committed, not only to increasing trade liberalization and regional cooperation, but also to maintaining the central role of the World Trade Organization in a multilateral trade system. Both the TPP and the RCEP, he said, could become complementary in the future, and the two treaties, with their overlapping country membership, could go "hand in hand" as mutually reinforcing pathways to an overall Free Trade Area of the Asia-Pacific.

The original TPP agreement was signed by New Zealand, Chile, Singapore and Brunei in 2005. The US has led negotiations to extend it since 2008, which now also include Australia, Canada, Japan, Malaysia, Mexico, Peru and Vietnam.

The RCEP includes the 10 ASEAN members – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – together with its FTA partners – China, Japan, South Korea, India, New Zealand and Australia.

TAGS: tax | free trade agreement (FTA) | Brunei | Chile | India | trade treaty | Australia | China | Laos | Mexico | Philippines | Singapore | Thailand | agreements | Cambodia | Canada | Indonesia | Korea, South | Malaysia | New Zealand | Peru | United States | trade | Japan | Vietnam | Asia-Pacific

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »