Saturday, 18 November, 2017

Trans-Pacific Partnership resurrected, 11 member countries agree on text of pact

Philippine President Rodrigo Duterte right leaves the Asia Pacific Economic Cooperation CEO Summit in Danang Vietnam Thursday Nov. 9 2017. Talks aimed at salvaging a Pacific Rim trade pact rejected by President Donald Trump resumed Thursday TPP deal has not sunk yet: Core elements of deal agreed, more work to be done
Howard Terry | 13 November, 2017, 00:25

The representatives of the 11 Asia-Pacific countries, including Japan, Australia, Canada, Malaysia and Mexico, have agreed to push ahead toward the Trans-Pacific Partnership (TPP).

A spokeswoman said Japanese Prime Minister Shinzo Abe, the meeting's chair, cancelled the event after a 50-minute face-to-face discussion with Trudeau.

It has been reported that the 11 Trans-Pacific Partnership (TPP) countries have reached an agreement on "core elements" of the trade pact, including that all countries will adhere to strict labour and environmental standards.

"It's less than ideal to have every leader and trade minister from the other 10 countries sitting around the table and not have Canada there".

The 11 ministers "have agreed on every word and expression used in the ministerial statement" to be released Saturday, Motegi said. After some disagreements between the two during the tête-à-tête, Abe told the other waiting leaders that the meeting was off, and Trudeau went on to meet with Facebook executive Sheryl Sandberg.

Trump said he would not enter into large trade agreements, alluding to USA involvement in the North American Free Trade Agreement and the TPP.

Japan had hoped that the leaders of the TPP countries would back the deal on the sidelines of the APEC Leaders'Week, but Canada's unexpected move led to the cancellation of the leaders' meeting set for Friday afternoon.

Trump criticized multilateral free trade agreements like the TPP, saying in a speech Friday, "What we will no longer do is enter into large agreements that tie our hands, surrender our sovereignty and make meaningful enforcement practically impossible".

Trudeau said Saturday in Vietnam that despite some significant progress on the deal's framework there's still more work to be done, particularly when it comes to protecting Canada's auto and cultural sectors.

However, Japan and the APEC host, Viet Nam are now expected to issue a statement at 11 am local time giving an update on the renamed Comprehensive Progressive Trans-Pacific Partnership (CPTPP) in which just four outstanding areas of contention remain.

Some 20 provisions of the original agreement were suspended.

Partly to counter China's growing dominance in Asia, Japan had been lobbying hard for the TPP pact, which aims to eliminate tariffs on industrial and farm products across an11-nation bloc whose trade totalled $356 billion previous year.

"It's hard to say what position Canada will take from here".

Nafta talks with the United States were not affecting Canada's stance on TPP negotiations, he said.

The Apec leaders met in closed sessions on Saturday, pausing for the traditional "family photograph", taken above the South China Sea.

"We weren't ready to close it yesterday", Trudeau told reporters at the closing news conference for the APEC summit in Vietnam.

What is especially troubling is that Trudeau said the government would take its time to get the deal right, but now it appears that he was pressured into accepting a deal at any cost.

"The fact that global meetings were held continuously in a very short time is unprecedented, it did not happen even during the earlier negotiation period", Motegi said.

Later, leaders of the 21 Apec economies agreed to address "unfair trade practices" and called for the removal of "market distorting subsidies", in contrast to communiques they have issued in the past.

China's President Xi Jinping, meanwhile, used the same forum to stress multilateralism and said that globalization is an irreversible trend.

Recommended

  • Toy Company Rivals Hasbro And Mattel May Soon Become One

    Toy Company Rivals Hasbro And Mattel May Soon Become One

    The toymaker's stock has also taken a hit, falling 52 percent over the past year while Hasbro's shares have increased 8 percent. Hasbro's stock rose 18 per cent this year, and the company has a market value of $11 billion - more than twice that of Mattel.
    The Penguins Weather Storms to Once Again Win

    The Penguins Weather Storms to Once Again Win

    Twenty-three year old Conor Sheary was the hero on a face-off play that had been diagrammed by captain Sidney Crosby. In other NHL Finals betting news the Sharks are tied as the fifth most likely team to win the Stanley Cup in 2017.
    Investors Target Premier League Clubs Due to Rising Profits

    Investors Target Premier League Clubs Due to Rising Profits

    A further estimate shows that the operating profits of the clubs could double to reach a cumulative one billion in the end. Dan Jones, the report editor, expressed that Premier League clubs have reached a turning point with such an achievement.
  • Chasing Plan for World Hurdle Winner Thistlecrack

    Chasing Plan for World Hurdle Winner Thistlecrack

    However, this is perhaps not the route to go for punters who are again looking to beat the bookmakers, with the Supreme Novices' Hurdle the perfect example.
    Make a bet on the chess tournament

    Make a bet on the chess tournament

    You need to gather the information about their weak and strong habits, before you will visit best sports betting site . Some players are trying to make quick decisions, while others can better manifest themselves after long reflection.
    Dirty tricks of casino

    Dirty tricks of casino

    This is how people can feel themselves more comfortable with low ceilings, but their attention drawn to the object at the bottom. Therefore, in order not to cause you unnecessary association casino changes your money on the colored glass chips.
  • Mad Men's Matthew Weiner accused of sexually harassing show's writer

    Mad Men's Matthew Weiner accused of sexually harassing show's writer

    Said Gordon, "I spent a couple days feeling down and feeling upset and aimless". She was let go from the writing staff a year later.
    Current State Gambling Laws in the USA

    Current State Gambling Laws in the USA

    Local Gambling Laws Since the USA is a huge country, grasping the complete landscape of local gaming laws is virtually impossible. Despite that, there are still online casinos that accept American players and give them options to make deposits and withdrawals.
    Why Gambling Online Should Be a Right and Not a Privilege

    Why Gambling Online Should Be a Right and Not a Privilege

    It’s a game of chance isn’t it? But if it’s a game of chance that you can play online, then it’s a no-no. Furthermore, the study suggests that it’s far easier to police gambling addiction online than it is in real life casinos.
  • Saturday Night Live cold open blasts Roy Moore and Jeff Sessions

    Saturday Night Live cold open blasts Roy Moore and Jeff Sessions

    The Washington Post reported last week that the 70-year-old Moore had relationships with teenage girls while he was in his early 30s.
    Martellus Bennett Says Packers Knew About Shoulder Injury Months Before Waiving Him

    Martellus Bennett Says Packers Knew About Shoulder Injury Months Before Waiving Him

    After trying to persuade me to play thru a major injury and me choosing to get surgery. During the bye week, he stopped using anti-inflammatory medication. "They panicked.
    Top Premier League contenders after the transfer window

    Top Premier League contenders after the transfer window

    Now Eden Hazard is playing well again and Diego Costa is hitting some scoring form, Chelsea should be challenging once more. After underachievement last season, most anticipate City being challengers this time around.

Macron Says France Disagrees with Saudi Arabia on Iran Macron Says France Disagrees with Saudi Arabia on Iran In a statement, Iranian Foreign Ministry spokesman Bahram Qassemi said the country's defense affairs are not negotiable. Tehran says it has no plans to build nuclear-capable missiles and the missile programme is for defence purposes.

Bentley Continental GT3 Racer is ready for the 2018 racing season Bentley Continental GT3 Racer is ready for the 2018 racing season The bodywork was crafted in a wind tunnel and suspension and braking systems are bespoke just for the Continental GT3 racer. The Bentley Continental GT may be a good-looking luxury grand-tourer, but it also makes a heck of a race vehicle .

Paul Pogba: 'Anthony Martial an incredible talent' Paul Pogba: 'Anthony Martial an incredible talent' Stunning statistics have shown exactly how much Manchester United have missed Paul Pogba during his spell on the sidelines. Reports in recent days have claimed Pogba would play for Manchester United versus Newcastle next Saturday.