Am­bas­sadors dis­cuss chal­lenges posed by Trans-Pa­cific Part­ner­ship

China Daily (Canada) - - ACROSS AMERICAS - By ZHANG YUE in Wash­ing­ton zhangyue@chi­nadaily.com.cn

The im­ple­men­ta­tion of the Trans-Pa­cific Part­ner­ship agree­ment still faces var­i­ous chal­lenges in some de­vel­op­ing coun­tries, ac­cord­ing to a panel of am­bas­sadors.

Views were ex­changed dur­ing a spe­cial event ti­tled Chal­lenges and Op­por­tu­ni­ties for TPP Coun­tries at the Woodrow Wil­son Cen­ter in Wash­ing­ton on Tues­day.

En­voys to the US from Canada, Ja­pan, Peru and Viet­nam dis­cussed chal­lenges and op­por­tu­ni­ties they face on the TPP.

The TPP is a trade agree­ment among 12 Pa­cific Rim coun­tries. It was ap­proved on Oct 5 by Aus­tralia, Brunei, Canada, Chile, Ja­pan, Malaysia, Mex­ico, New Zealand, Peru, Sin­ga­pore, the United States and Viet­nam, af­ter seven years of ne­go­ti­a­tions

Luis Miguel Castilla, Peru’s am­bas­sador to the US, said that the agree­ment’s in­tel­lec­tual property terms are a chal­lenge.

‘For Peru, in join­ing the US agree­ment, we have done a lot of home­work al­ready,” he said. “And now IP is the area that we need to pro­duce new reg­u­la­tions so we can meet the new stan­dard that has been agreed upon.

“I think in our case, it is not a chal­lenge for the le­gal frame­work; the main chal­lenge for us is to de­velop our own ca­pa­bil­i­ties,” he said.

“Pre­vi­ously, we have had a trade agree­ment with the US, and now this has been moved to a higher-level stan­dard,” Castilla said.

“We are now asked to have in­sti­tu­tions sim­i­lar to the US. I think we need to strengthen our own in­sti­tu­tions to be able to com­ply with the high stan­dard of agree­ments that we agreed upon.”

Pham Quang Vinh, am­bas­sador of the So­cial­ist Repub­lic of Viet­nam to the US, said that the Viet­namese are quite op­ti­mistic about the TPP, and most peo­ple sup­port it.

“And this is be­cause of the mar­ket ac­cess we will be hav­ing,” he said. “And also, this will at­tract more for­eign in­vest­ment to Viet­nam. Peo­ple in Viet­nam are lack­ing for­eign goods.

“We are a less de­vel­oped coun­try com­pared with the high stan­dard rules of the TPP,” he said. “How can we com­pete in that en­vi­ron­ment is a ques­tion.

He said that “the sec­ond thing is that we still see a lot of de­mand for in­no­va­tion and re­form in the mar­ket in com­ply­ing with the high TPP stan­dards to have a higher pro­duc­tiv­ity.”

Castilla and Kanji Ya­manouchi, min­is­ter of eco­nomic af­fairs at the Ja­panese Em­bassy in Wash­ing­ton, agreed that China’s in­flu­ence is im­por­tant whether in or out of the TPP.

“China is crit­i­cal, whether as an im­por­tant trad­ing part­ner or in terms of its in­vest­ment in Latin Amer­i­can coun­tries. For us, it makes ab­so­lute sense to have China join­ing the TPP,” Castilla said.

I think in our case, it is not a chal­lenge for the le­gal frame­work; the main chal­lenge for us is to de­velop our own ca­pa­bil­i­ties.”

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