APEC 2017: TPP Ministerial Meeting opens in Da Nang

Thursday, 2017-11-09 16:39:00
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Delegates discuss measures to push the TPP deal ahead without the US. (Credit: dantri.com.vn)
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NDO/VNA – Talks on pushing the Trans-Pacific Partnership (TPP) deal ahead without the US reached an upbeat point, Minister of Industry and Trade Tran Tuan Anh said at the TPP Ministerial Meeting, which opened in the central coastal city of Da Nang, on November 9.

Negotiators achieved a consensus in a number of controversial issues, enabling the involved parties to reach the final commitment package, Anh said at the two-day event, which took place on the sidelines of the APEC 2017 Economic Leaders’ Week.

The trade pact was officially signed on February 4, 2016, among 12 countries, including the US, Canada, Mexico, Peru, Chile, New Zealand, Australia, Japan, Singapore, Brunei, Malaysia, and Vietnam. A TPP is a new-generation free trade agreement with high level of commitment covering trade and non-trade issues.

However, after taking the office in January, 2017, US President Donald Trump decided to withdraw his country from the pact. The remaining TPP countries are working toward a new deal that can move forward without the US.

Following the latest round of negotiations in Japan earlier this month, the chief negotiators of the 11 TPP members expressed their hope that they would make progress at the APEC 2017 Economic Leaders’ Week in Da Nang.

Earlier, at a press conference on the APEC 2017 Economic Leaders’ Week on November 2, Standing Minister of Foreign Affairs Bui Thanh Son said that in the framework of APEC, cooperation and regional link mechanisms, including the TPP, must be characterised by voluntarism and mutual benefit and respect.

Vietnam will join hands with the other TPP members in order to gain the most robust result, Son highlighted.