Trans Pacific Partnership-11 leaders failed to meet

Bid to Save Pacific Rim Trade Pact Comes to a Head

Canada will not be rushed into the Trans Pacific Partnership (TPP), so as to ensure a deal that serves its best interests, Prime Minister Justin Trudeau said on Wednesday.

Abe told Peru's President Pedro Pablo Kuczynski that he welcomed a broad agreement reached at the TPP ministerial meeting, a written statement by the Japanese government said on Friday. "What's left are issues that are important to each country, or that they are particularly concerned about".

It would go beyond traditional deals by including issues like intellectual property, state-owned enterprises and labour rights.

President Donald Trump pulled the US out of the TPP earlier this year.

Regarding Canada's participation in the Trans-Pacific Partnership (TPP) agreement, PM Trudeau affirmed that Canada attaches importance to worldwide trade collaboration as it helps generate jobs, boost economic development and improve people's living conditions. Mexican Economy Minister Ildefonso Guajardo also said that the countries had reached a deal, though he gave no other details. The TPP would improve market access and support the rule of law - and the world was "dangerously short of both", he said. Auto parts can cross the U.S.

"It's hard to say what position Canada will take from here. I am quite sanguine that we will get a deal but of course it has got to go through the process of ratification", he said.

He said that over the past two decades, Canada has always been among the top suppliers of official development assistance (ODA) to Vietnam, and asked the country to continue the supply of capital, especially for poverty reduction, climate change response, agriculture and sustainable growth, and support for Vietnam's access to preferential loans after 2017. "Certainly, I think it's months, if not years, ahead in terms of bringing everyone along".

Jacinda Ardern is looking to secure some amendments to investor state dispute settlement clauses, while still signing New Zealand onto the TPP - 11. "It's a significantly different deal without Canada in it".

In an interview on November 7, Ardern said New Zealand would benefit from the TPP.

He did not want to elaborate on what the sticking issue that reversed the done deal was, as it could prejudice ongoing negotiations. One official involved in the talks said the Vietnamese negotiators had walked out of the meeting late Thursday evening after disagreement flared with another delegation.

Mexico, the TPP's fourth-largest economy, has worked with Japan and others to reach an accelerated TPP pact. NAFTA talks have stalled on five contentious USA proposals, with the next round set for later this month in Mexico.

Trudeau is on the first leg of a trip through Pacific Rim countries.

Parker said the 11 countries still participating in the initiative after the USA withdrew earlier this year are showing good will and a desire to make progress.

Because the USA secured numerous concessions during its negotiations, the remaining countries were left to hash out which terms from the original pact to suspend now that Washington has left the table.

"Culture is more than just an economic good", he said.

He said, "America was the first victim of globalization and that is why Trump is trying to lure them back and said 'America First'".



Other news