Australian news, and some related international items

New Trans-Pacific Partnership agreement “less problematic”

‘Hallelujah’ moment: Revised TPP to be signed in March Radio New Zealand, 23 Jan 18 The revised Trans-Pacific Partnership agreement is to be signed in March, the Trade Minister has confirmed. Australia’s Trade Minister, Steve Ciobo, said the 11 nations, including New Zealand, are “finally at the finish line” following talks between officials in Tokyo………

The rebranded the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), covers nearly 500 million people and the 11 countries involved make up 14 percent of global economic activity, or about $US10 trillion.

If the trade pact is successfully concluded, lower barriers and standardised rules are expected, making it easier for businesses to sell their goods and services in these markets.

Speaking at the World Economic Forum in Davos, Switzerland, Canada’s Prime Minister Justin Trudeau called the agreement the “right deal”.

The country’s trade minister said it included an improved arrangement on autos with Japan and the suspension of intellectual property provisions that had been a concern…….
Trade specialist Stephen Jacobi  said it was a less problematic deal than the initial one.

“It suspends a number of the more problematic areas of TPP, particularly intellectual property provisions and some aspects of the investor state settlement that was very controversial in New Zealand.

“It’s taken the hard edge off TPP … in those areas.”

Mr Jacobi said [New Zealand] parliament needed to ratify the agreement, but while he did not think there would be major issues passing it in New Zealand there would still be critical voices in this country.


January 24, 2018 - Posted by | AUSTRALIA - NATIONAL, politics international

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