Members of the Trans-Pacific Partnership decided to cooperate without the US
Almaty. May 4. Silkroadnews – Eleven members participating in the agreement on the Trans-Pacific Partnership (TPP) agreed to continue discussions to boost free trade zone creation after the US announced its withdrawal, TASS reports.
Such a decision was voiced by Tokyo’s official representative at the TPP talks Keiichi Katarami taking part in the talks of high-ranking diplomats from 11 states members of the TPP agreement in Toronto.
“The participants of the agreement plan to continue consultations not to lose the idea of Pacific partnership. With this though the member countries have different positions on the issue”, he said.
In particular, Japan, Australia and New Zealand are poised for the TPP to start working as soon as possible without the US, while such countries as Vietnam and Malaysia are cautious about this, as earlier mainly looked for a simplified access to the American market.
Following Toronto talks, the TPP destiny to be further discussed at the ministerial meeting to be held in late May in Vietnam.
To remind, the US President Donald Trump announced the US withdrawal from the Trans-Pacific Partnership agreement immediately upon taking the office, though the former administration of Barack Obama was one of the main drivers facilitating the agreement. D. Trump has arrived at a conclusion that the TPP gives unreasonable benefits to competitors, including Japan, and does not fully take into account the American interests. Prime Minister of Japan Shinzo Abe tried to persuade Trump to reconsider such a decision, but did not succeed.
Agreement on the TPP formation was concluded last February following seven years of persistent negotiations. Twelve countries were to participate in this area of free trade of goods, capital and technology: Australia, Brunei, Vietnam, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, Chile and Japan. The agreement can enter into force only after its ratification by the majority of the participating countries. However, so far it has been ratified by the Parliament of Japan.
