TPP trade ministers try to bridge differences in Atlanta
Trade ministers from 12 Trans-Pacific Partnership (TPP) member states convened a meeting in Atlanta, the US, on September 30 in an effort to resolve key issues of the world’s largest free trade deal.
Trade ministers from 12 Trans-Pacific Partnership (TPP) member countries met in Hawaii on July 31. (Photo: VNA)
Trade ministers from 12 Trans-Pacific Partnership (TPP) member countries convened a meeting in the city of Atlanta, Georgia, the US, on September 30 in an effort to resolve key issues of the world’s largest free trade deal.
The agenda of the two-day meeting focus on differences over a number of outstanding issues which prevented the sides from reaching the final agreement at the last top-level talks in Hawaii in July.
Among these issues are US import barriers on some Japanese auto components, US and Canada’s market openings to dairy products from New Zealand and the duration of patent protection for new-generation drugs.
New Zealand Prime Minister John Key said this talk might be a good chance of wrapping up the TPP and warned about possible political consequences if the negotiations last too long.
According to him, the meeting of TPP negotiating state leaders at the Asia-Pacific Economic Cooperation (APEC) summit in the Philippines in mid-November would probably be the last chance to seal the deal this year.
But trade analyst Sean West of the Eurasia Group believed that the final deal is likely by the end of the year, even if the Atlanta meeting makes no progress.
The TPP negotiations began since 2005 and the participating countries are making great efforts to complete it as soon as possible after the 2013 deadline was missed.
The TPP member states are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.
Once the deal is signed, the TPP will become a free trade region of 800-million people, accounting for 30 percent of global trade and about 40 percent of the world’s economy.-VNA
Most Vietnamese businesses are still unclear about international trade and business laws, which could result in a loss of opportunities presented by the Trans Pacific Partnership (TPP).
How the Trans-Pacific Partnership Agreement (TPP will open opportunities to attract investment in Vietnam was the focus of an interview granted by a former official of the Foreign Investment Agency.
Regulations on the origin of goods will present challenges to Vietnam’s textile and garment sector once free trade agreements, especially the looming Trans-Pacific Partnership (TPP), come into force.
Thailand is considering joining negotiations on the Trans-Pacific Partnership (TPP) agreement but needs to further study the pact’s terms and conditions, said Deputy PM Somkid Jatusripitak.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
Trade ministers from 12 Trans-Pacific Partnership (TPP) member countries met in Hawaii on July 31. (Photo: VNA)
