Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Brunei, Chile, NZ, Singapore Conclude P4 Agreement

Joint Press Statement from Brunei Darussalam, Chile, New Zealand and Singapore Ministers

Brunei Darussalam, Chile, New Zealand And Singapore Conclude Negotiations On A Trans-Pacific Strategic Economic Partnership Agreement

Brunei Darussalam Ambassador-at-Large Princess Masna, Chilean Minister of Foreign Affairs Mr Ignacio Walker, New Zealand Minister for Trade Negotiations Hon Jim Sutton, and Singapore Minister for Trade and Industry Mr Lim Hng Kiang today announced the successful conclusion of negotiations for a Trans-Pacific Strategic Economic Partnership Agreement (Trans-Pacific SEP).

Negotiations were first launched by the President of Chile and the Prime Ministers of Singapore and New Zealand in 2002 at the APEC Leaders Summit in Los Cabos (Mexico). The shared vision was to create a trade agreement, which would have the potential to grow into a larger strategic agreement for trade liberalisation within the Asia-Pacific region.

Progress has already been made on this front, as the Ministers from Chile, Singapore and New Zealand today formally accepted Brunei Darussalam as a founding member of the Agreement, on terms that allow Brunei Darussalam to progressively implement some of its commitments over the next two years.

The Trans-Pacific SEP will bring strategic benefits to all four partners, in effect building a bridge between Latin America, the Pacific and Asia. It will encourage Brunei Darussalam, Chile, Singapore and New Zealand to pool their expertise, ideas, technology and resources to improve their competitiveness on the global market. The Agreement will also help advance shared objectives in APEC and the WTO.

The Ministers also announced the conclusion of parallel negotiations on an Environment Cooperation Agreement and Labour Cooperation Memorandum of Understanding. Reflecting a shared desire to encourage and promote sound labour and environment practices, these agreements establish mechanisms for ongoing cooperation and dialogue on labour and environment issues.

The Ministers from all four countries commended the outcome of the negotiations, which delivers the following:

• A comprehensive agreement on trade in goods, whereby more than 90 percent of total trade among the four parties will be duty free on implementation;

• Trade facilitation aimed at reducing transaction costs relating to sanitary and phytosanitary measures, standards and conformance and customs procedures;

• A liberalising framework that will encourage trade in services among the countries;

• A commitment from the parties to ensure that companies from other Parties to the Trans-Pacific SEP are able to compete on an equal footing with domestic suppliers for government procurement contracts, above certain thresholds;

• Cooperation between the four parties on competition and intellectual property rights;

• The provision of a framework for collaboration in strategic areas such as innovation, research and development;

The Ministers will recommend the results of the negotiations to their respective governments for signature. The Trans-Pacific SEP (together with the parallel agreements on labour and environment) is expected to enter into force on 1 January 2006, subject to the completion of each party's respective domestic processes.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election