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TPP trade deal talks move forward despite Canada wobble TPP trade deal talks move forward despite Canada wobble
(about 5 hours later)
Eleven Pacific rim nations including Canada are moving ahead with talks for a resuscitated Trans-Pacific Partnership trade deal. Members of the Trans-Pacific Partnership have agreed a new framework to revive the proposed trade deal, following US withdrawal earlier this year.
The fate of the talks was briefly up in the air after Canada was accused of getting cold feet at the last minute and stalling an agreement. Meeting on the sidelines the Apec summit in Vietnam, the remaining eleven nations released a joint statement saying they were committed to free and open trade.
Leaders from Asia-Pacific nations are meeting in Vietnam to push ahead with the massive trade deal without the US. Canada had been accused of stalling.
Canada's trade minister now says good progress has been made on a deal. However its trade minister said good progress has now been made.
François-Philippe Champagne also denied that Prime Minister Justin Trudeau had deliberately skipped a leaders' meeting on the TPP on Friday and blamed his no-show on a scheduling mix-up.François-Philippe Champagne also denied that Prime Minister Justin Trudeau had deliberately skipped a leaders' meeting on the TPP on Friday and blamed his no-show on a scheduling mix-up.
"There was never an intention not to show up at any meeting," he said."There was never an intention not to show up at any meeting," he said.
Mr Champagne said Canada wanted more time to look over certain provisions in the agreement, including those related to the auto sector.
Mr Trudeau said earlier in the week that Canada would not be rushed into a renewed TPP deal.Mr Trudeau said earlier in the week that Canada would not be rushed into a renewed TPP deal.
As reported by Reuters, Mr Abe told journalists on the sidelines of the Asia Pacific Economic Cooperation (Apec) summit that a broad agreement appeared to have been reached among the 11 nations involved in renewed TPP talks on Thursday. The country's delegation said labour and environmental rights would be crucial pillars of a new agreement, but added that a lot of work still needs to be done.
The leaders of 10 of the countries arrived for a meeting on the talks on Friday but reports say it was cancelled after Mr Trudeau, who was in last minute bilateral talks with Mr Abe, failed to attend.
Mr Abe said that all the other leaders except Mr Trudeau had been ready to confirm the ministerial-level agreement to move forward with the trade deal without the US.
Canadian officials said Canada was not the only country that wanted more time to work through the agreement.Canadian officials said Canada was not the only country that wanted more time to work through the agreement.
Efforts to resuscitate the TPP trade deal include Canada, Australia, Chile, New Zealand, Brunei, Singapore, Japan, Malaysia, Mexico, Peru and Vietnam. The other countries working towards an agreement are Australia, Chile, New Zealand, Brunei, Singapore, Japan, Malaysia, Mexico, Peru and Vietnam.
However, analysts say the trade pact is less appealing to some nations without access to the huge US market.
President Donald Trump withdrew the US from the original 12-nation TPP agreement in January.President Donald Trump withdrew the US from the original 12-nation TPP agreement in January.
The bid to revive the TPP, which would have covered 40% of the global economy, was led by trade ministers from Japan, Australia and New Zealand.The bid to revive the TPP, which would have covered 40% of the global economy, was led by trade ministers from Japan, Australia and New Zealand.