Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


TPP to live on in other acronyms even if it fails: Groser

TPP to live on in other acronyms even if it fails: Groser

By Pattrick Smellie

June 6 (BusinessDesk) - The negotiated positions of parties to the Trans-Pacific Partnership trade agreement will be crucial in developing other free trade pacts that are either emerging or on the table now, even if the current negotiations fail, says International Trade Minister Tim Groser.

Speaking in the Philippines as part of a business delegation in the capital, Manila, Groser said the TPP negotiations were now "at a crucial stage", but that if the talks were to fail, the developments they achieved would still prove useful for the ultimate liberalised trade zone, the Free Trade Area in the Asia-Pacific, otherwise known as FTAAP.

Groser described an era of "competitive liberalisation" in which many of the parties to the TPP negotiations might still pursue trade liberalisation through the Chinese-led Regional Comprehensive Economic Partnership, or RCEP.

"The rules negotiations are extremely advanced," said Groser of the TPP negotiations. That includes in the contentious area of intellectual property, along with e-commerce, new rules for state-owned enterprises, competition policy, government procurement, and the movement of businesspeople "as part of a Services outcome."

Only market access issues remained, and it was not possible to "sign off 21st century rules and ignore 20th century unresolved market access issues", many of them in agriculture.

"The 'TPP bus', if we complete the negotiation, will carry on to other destinations in the Asia Pacific," said Groser. "Though TPP may yet still stumble if governments finally lack the courage to take the final decisive decisions to confront their highly protected sectors, there is every reason to believe TPP will be the decisive influence in creating the entire FTAAP."

The other "mega-regional deal" in play is between the US and Europe, the Trans-Atlantic Trade and Investment Partnership, or TTIP.

The RCEP initiative represents an alternative to the TPP negotiations but includes the huge emerging economies of both China and India, neither of which are part of TPP, while leaving out the US and taking in all of ASEAN, Japan and Australasia.

"If TPP falters, RCEP, either in its current full form or some 'slimmed down' version is likely to take leadership of the process of Asia Pacific integration," Groser said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Employment: Labour Urges Talley’s To End AFFCO Lockout

Labour has urged Talley’s to resolve the ongoing industrial dispute with AFFCO workers which is having a severe effect on the employees, their families and their communities, Labour’s Workplace Relations spokesperson Iain Lees-Galloway says. More>>

ALSO:

Three Kings: Govt To Oppose Appeal Blocking $1.2B Auckland Housing Plan

Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing redevelopment on the disused site of the Three Kings quarry. More>>

ALSO:

Transport: Jetstar Expands Regional Network With Three New Routes

More New Zealanders than ever before will have access to Jetstar’s affordable flights when new services take off today from Auckland to New Plymouth and Palmerston North, and Nelson to Wellington. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news