Trade negotiators from the TPP-11 countries will gather in Japan today to discuss procedures for accepting new members into the
Trade negotiators from the TPP-11 countries will gather in Japan today to discuss procedures for accepting new members into the free trade bloc.
Without the US, it’s unlikely the TPP-11 will have the economic influence the old agreement possessed. The US has historically been a major export market for several of the bloc’s ASEAN member states, such as Brunei, Malaysia, Singapore and Vietnam. For ASEAN members, the primary reason for being part of the former TPP was to gain greater access to this lucrative market.
Japan has spearheaded the drive to encourage the US to re-join and ultimately preserve the agreement. Today, take note of member states pushing for US re-entry into the alliance. Expect discussions on amending the TPP-11’s intellectual property rules as a way of compromising with the US, which left the agreement largely because of these rules it claimed were “unfair”.
Wake up smarter with an assessment of the stories that will make headlines in the next 24 hours. Download The Daily Brief.