Medicine

Pacific Forum Sticks To Free-Trade Gospel Despite Trump

Pacific Forum Sticks To Free-Trade Gospel Despite Trump

"Maybe it will be not everything that was agreed on the TPP-12, but it can be for them to be able to start with something, and then hopefully, later on, the United States will come in again", Tan Sri Rastam said.

Prime Minister Jacinda Ardern says New Zealand First won't make a decision on whether it backs the CPTPP (the rebranded Trans Pacific Partnership Agreement) through Parliament, until it's seen the final deal.

The leading Pacific Rim nations, including Japan, Australia, Mexico and Malaysia, said they had revived the Trans-Pacific Partnership (TPP) deal - even though the trade pact was abandoned by USA president Donald Trump in one of his first acts in office.

There are effectively four remaining issues of concern to Canada to be resolved, Mr Ciobo said.

The TPP - now called the Comprehensive Progressive Trans-Pacific Partnership - has been agreed in principle by the 11 nations in it, including New Zealand.

"We are still negotiating - this is a very, very complex negotiation", Freeland said.

HCM City wishes to join hands with Canada to boost cooperation and friendship in delegation exchange and economy, trade, urban management and education, Phong said.

Asked by reporters if the deal had the support of Canada, whose Prime Minister Justin Trudeau did not show up for the meeting planned for Friday, Motegi said "yes". "That is what I've been saying at least for a week, and I've been saying it around TPP12 for years now, and that position continues to hold", Trudeau tells CBS Radio-Canada.

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Aspects of the trade pact have raised hackles also over a requirement that companies be allowed to sue governments for lack of enforcement of related laws.

In a joint statement, the ministers said the new pact maintains the "high standards, overall balance and integrity" of the TPP, while ensuring the interests of all participants and "preserving our inherent right to regulate, including the flexibility of the parties to set legislative and regulatory priorities".

The 11 counties remaining in the trade pact rejected by Trump in January have been working to revise the deal to allow them to proceed without USA involvement.

Trump reiterated his markedly different stance on trade before the 21-member APEC summit convened late Friday with a gala banquet. However, it was described as a "disaster" by US President Trump during his election campaign, claiming it would threaten American jobs by introducing lower-wage competition.

In contrast, Chinese President Xi Jinping told the same group that nations need to stay committed to economic openness or risk being left behind.

TPP took seven years to negotiate and was drafted in part to counter China's dominance in Asia.

The negotiations took place on the sidelines of the APEC summit in Vietnam over the weekend, with Ms Ardern and Trade Minister David Parker leading New Zealand's team.


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