TPP nations achieve progress toward new free trade deal

Sep 25th at 14:58
25-09-2017 14:58:47+07:00

TPP nations achieve progress toward new free trade deal

The Trans-Pacific Partnership nations have made progress toward a new free trade agreement slated for November following the US withdrawal from the pact, according to Japanese chief negotiator of the Trans-Pacific Partnership Kazuyoshi Umemoto.

Umemoto was quoted by Japanese news agency Kyodo as saying so to the press on September 22 after two days of negotiations in Tokyo. He also said chief negotiators of the 11 TPP member countries agreed to meet again next month, adding that they aim to clinch a new deal at the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in Viet Nam in November.

During the latest round of negotiation, three working groups on legal, intellectual property and other issues discussed member economies’ requests for freezes on parts of the original agreement, particularly clauses introduced at the US request.

The TPP was signed in February 2016 by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Viet Nam, covering around 40 per cent of the global economy.

The US withdrew from the pact after President Donald Trump took office in January.

bizhub



NEWS SAME CATEGORY

Three loss-making projects to be inspected

Minister of Industry and Trade Tran Tuan Anh has promulgated decision to conduct inspections at three loss-making projects under their management.

Hungarian PM takes care of business

More than 50 Hungarian firms and investors will come to Vietnam this week during Hungarian Prime Minister Viktor Orbán’s September 24-25 official visit to the...

Progress on special zones law to ease investment

The Department for Economic Zones Management (DEZM) of the Ministry of Planning and Investment is in the process of completing the draft Law on Special...

VN strategises to reach yearly export value target

Viet Nam will adopt multiple solutions to reach its target of US$200 billion in total export value for the year, a year-on-year increase of 13 per cent, officials...

Business leaders speak out against irrational charges

Leaders of the business community claim that reductions in taxes and fees and the removal of irrational business conditions should be among the key measures for the...

Bà Rịa – Vũng Tàu calls for investments in Côn Đảo Island

Con Dao Island, off the coast of Ba Ria-Vung Tau Province, has significant untapped potential and advantages for investors, according to the Provincial People’s...

Russian Gastro Week opens in Hà Nội

The Russian Gastro Week began in Ha Noi on Thursday in a bid to boost agro-forestry-fishery partnership between Viet Nam and Russia.

Sumitomo begins building Thang Long Industrial Park III

Japan’s Sumitomo Corporation broke ground for the construction of its third Thang Long Industrial Park (TLIP III) in Viet Nam in the northern province of Vinh Phuc...

Conference helps start-ups access capital

Executives from start-ups and small and medium-d enterprises (SMEs) were in attendance at a conference titled “Access to capital for startups” in HCM City on...

Fecon raises foreign ownership limit to 75 per cent

Foundation Engineering and Underground Construction JSC (FECON), a leading contractor in foundations and underground work in Vietnam, raised the foreign ownership...


MOST READ


Back To Top