pacific trade deal nearing completion despite delay
Last Updated : GMT 17:02:39
Arab Today, arab today
Arab Today, arab today

Pacific trade deal nearing completion despite delay

Arab Today, arab today

Arab Today, arab today Pacific trade deal nearing completion despite delay

Pacific trade
Singapore - AFP

Asia-Pacific countries negotiating a vast free-trade pact are "nearing completion" of a landmark agreement, US Secretary of State John Kerry said Tuesday, days after delegates failed to seal the deal in Hawaii.

Kerry said the 12 countries including the US and Japan negotiating the Trans-Pacific Partnership (TPP) had made good progress on reaching an accord following talks that ended on Friday in Maui, but "as with any complex negotiation...there remains details to be hashed out".

"My friends, this is a moment of exceptional opportunity for the Asia-Pacific.  We are nearing completion of a historic Trans-Pacific Partnership agreement on trade," Kerry said in a lecture at the Singapore Management University.

He was making a half-day visit to the city-state before attending the ASEAN Regional Forum in Kuala Lumpur.

Kerry praised the trade deal -- which will cover nearly 40 percent of the world's economy -- as an agreement that would have benefits beyond pure economic growth.

The pact would raise labour and environmental standards, protect intellectual property, deter corruption and also ensure free digital trade and fair competition between state-owned enterprises and private firms, he said.  

"Because major economies are committing to TPP’s high standards, its influence will be felt throughout the region. It will send a message to people within the TPP and outside of support for good governance, transparency and accountability," Kerry said.

Observers have said the delay in securing the deal in Maui last week complicates President Barack Obama's plans to secure the accord this year, and there is a risk of it becoming dragged into the 2016 presidential election debate.

The deal, eight years in the making and vaunted as part of Obama's "rebalance" towards Asia in the face of an increasingly assertive China, faces opposition from his fellow Democrats who see it as too far-reaching.

The TPP countries -- Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the US -- have faced criticism for carrying out their negotiations in what opponents have charged is intense secrecy.

Its many critics say the proposals indicate a deal moving more toward protectionism than free trade; one more about corporate benefits than boosting economies and development.

But backers say the modern global economy needs new rules of the road to protect intellectual property-dependent 21st century industries not covered in traditional free-trade forums like the World Trade Organization.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

pacific trade deal nearing completion despite delay pacific trade deal nearing completion despite delay

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

pacific trade deal nearing completion despite delay pacific trade deal nearing completion despite delay

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday