TPP countries push ahead with negotiations in Australia
Senior officials from the remaining 11 countries involved in the Trans-Pacific Partnership (TPP) are meeting in Australia from August 28-30 to discuss measures to bring the agreement into effect as soon as possible.
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| Commercial and Trade Ministers from Trans-Pacific Partnership member countries pose for a group photo at the signing ceremony in Auckland, New Zealand in 2016. |
Bringing the TPP into force would link 11 countries, including four of the world’s top 20 economies, with combined gross domestic product (GDP) of about US$9.8 trillion.
It would result in 19 new free trade agreements coming into force.
The Australian Government is committed to promoting trade and creating more export opportunities for Australian businesses through agreements such as the TPP, Ciobo said.
TPP countries are scheduled to discuss the early enforcement of the TPP at the APEC Economic Leaders’ Meeting to be held in Vietnam in November.
The TPP was signed in February 2016 by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
However, US President Donald Trump announced the withdrawal of the world's biggest economy from the TPP soon after taking office in January 2017.
It would result in 19 new free trade agreements coming into force.
The Australian Government is committed to promoting trade and creating more export opportunities for Australian businesses through agreements such as the TPP, Ciobo said.
TPP countries are scheduled to discuss the early enforcement of the TPP at the APEC Economic Leaders’ Meeting to be held in Vietnam in November.
The TPP was signed in February 2016 by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
However, US President Donald Trump announced the withdrawal of the world's biggest economy from the TPP soon after taking office in January 2017.
