China could replace the US in the Trans-Pacific Partnership – media

Almaty. November 22. Silkroadnews – China could replace the US in the agreement on Trans-Pacific Partnership (TPP), the Australian newspapers write referring to sources in delegation that took part in the APEC summit in Peru.

“At the closed meetings hosted in Lima the dignitaries of Canada, New Zealand, Mexico, Peru, Chile and several Asian countries discussed the TPP support issue. The leaders of the TPP member states' delegations have reached an informal agreement on support of the trade agreement, even in case the US leaves”, the publication says.

The text also notes that the Australian Minister for Trade and Investment Steve Chobo is ready to support the idea of the partnership irrespective of the US position.

The participants of the Lima meetings also discussed the possibility to include China, originally excluded from the TPP talks, to the agreement. The idea to invite Beijing to the deal is supported by all the leaders of the agreement's member states. At the same time China actively promotes the idea of another international trade liberalization agreement meaning the Regional Comprehensive Economic Partnership.

The agreement on the TPP formation was signed by 12 nations’ trade ministers in Auckland in February of this year. Australia, Brunei, Vietnam, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, US, Chile and Japan were assumed to become participants to this largest regional free trade zone.

Having said the agreement is a “potential disaster” for the country, the newly elected US president Donald Trump announced on Monday that on the very first day after the inauguration his intention is to start the procedure on getting Washington out of the TPP. Japanese Prime Minister Shinzo Abe said the agreement on creation of Trans-Pacific Partnership will have no sense with the US withdrawing.