Quick Trans Pacific trade deal far from sure

DANANG

(VIETNAM): Continuing disagreements over the Trans Pacific Partnership (TPP) trade deal ditched by US President Donald Trump mean 11 remaining members may not be ready to give it a wholehearted go-ahead at a summit this week, officials said on Wednesday.

Clear agreement on proceeding without the United States would be a boost for the principle of mul- tilateral free trade pacts over the bilateral deal-making that Trump argues will give a better result for American workers.

The TPP is also a counterweight to China’s growing regional dominance.

Japan has been lobbying hard for agreement on the sidelines of this week’s Asia-Pacific Economic Cooperation (APEC) summit in Vietnam.

However, officials from several member states said there was less appetite to move ahead quickly from some members - notably Canada, New Zealand and Malaysia. The pact aims to eliminate tariffs on industrial and farm products across a bloc whose trade totalled $356 billion last year.

It also has provisions for protecting everything from intellectual property to labour rights to the environment.

Chief negotiators from the TPP-11 countries met on Monday and Tuesday. Their ministers are due to meet on Wednesday and Thursday in the Vietnamese seaside resort of Danang.

A meeting of TPP leaders, who are all also in APEC, has been tentatively scheduled. Full story @ timesofoman.com/business