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

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news