TPP trade deal members seek to move ahead without US

HANOI/ TOKYO: Remaining members of the TransPacific Partnership (TPP) free trade agreement are working on a statement to reaffirm their commitment to it despite the withdrawal of the United States, sources close to the discussions said.

Talks are happening on the sidelines of an AsiaPacific Economic Cooperation (Apec) meeting, the biggest trade gathering since US President Donald Trump upended the world order with his “America First” policy.

The competing visions are evident at this weekend’s Apec meeting of ministers from countries that account for well over 40% of world trade.

While new US Trade Representative Robert Lighthizer will hold bilateral talks with key countries, China will be pushing its favoured Asian trade agreement as it puts itself forward as a global free trade champion.

Meanwhile, Japan is leading the countries that still want to go ahead with a much more comprehensive TPP agreement, a deal Trump ditched in one of his first acts in office and which does not include China.

Sources close to the discussions said the socalled TPP11 states – the 11 members left after the United States withdrew – were planning a statement for tomorrow that would say they were committed to moving ahead with TPP.

“There will be two main points: To aim for an early entry into force of the TPP11 and to bear in mind an environment where a signatory country can return,” said one source close to the discussions who was not authorised to speak to the media.

The agreement is due to come into force next year.

Among the challenges is keeping on board Vietnam and Malaysia, who would have been big beneficiaries from the agreement if it included the United States.

Vietnam would want to renegotiate requirements in areas such as labour reform and intellectual property rights if it were to continue without US participation, said one Vietnamese official who declined to be identified.

Japan is still hopeful that the United States can be brought back to the agreement.