12 September 2011

TPP Negotiations Make Steady Progress – NZ US Council

Speaking from the Trans Pacific Partnership (TPP) negotiations in Chicago, NZ US Council Executive Director Stephen Jacobi said he was satisfied that steady progress was being made.

“Negotiators from the nine TPP partners now have a clearer idea about the shape of the final agreement. A lot of work remains to be done to refine proposals on the table and develop consensus around draft text. Negotiators are concentrating on finalising the “broad outlines” of an agreement for endorsement by Ministers and Leaders meeting at APEC in Honolulu in November”.

Mr Jacobi attended the TPP Stakeholder Forum in Chicago on 10 September, giving an address at the event and releasing a joint support in support of the negotiations with other business organisations from around the Asia Pacific region. A number of other representatives from New Zealand business and civil society also attended.

“The TPP Stakeholder Forum is an opportunity for those with interests or concerns to air their views to negotiators. The Council is happy to play its part in this public debate. Negotiators from New Zealand and elsewhere are doing their best, within the confines of a politically and commercially sensitive negotiation, to listen to stakeholder views from all sections of society”.

Mr Jacobi’s address to the Forum focused on what business wanted to see emerge in the final agreement.

“TPP can help create a more seamless economic space in the region which will reduce business costs, improve supply chain efficiency, ensure growth and create jobs. The prize in getting this right is very big and stakeholder attention, quite rightly, is very high”.

Mr Jacobi said that while business always wanted to see faster progress it was important to take the time needed to get things right.

“All parties agree on the need for a comprehensive, high quality agreement. Some issues – like market access for agricultural products, intellectual property, pharmaceuticals and investment – should not be rushed. There is no harm in the negotiation continuing in 2012 provided Ministers give some firm political direction in Honolulu”.

The ninth round of TPP negotiations is scheduled for Lima 19-28 October. APEC Leaders meet in Honolulu12-13 November.

Note: A copy of Mr Jacobi’s address and the joint statement are available at www.nzuscouncil.com

About The Trans Pacific Partnership
TPP is an existing trade agreement between Brunei, Chile, New Zealand and Singapore which Australia, Malaysia, Peru, the United States and Viet Nam wish to join. Seven rounds of negotiations have been held involving the nine partners. The economies of APEC account for over 70% of New Zealand’s total merchandise trade. Trade with APEC economies has been growing at an average of 4.5% per annum over the last 20 years.

About the NZUS Council – www.nzuscouncil.com
The NZ US Council is a non-partisan body funded by both business and the Government to promote New Zealand’s broader relationship with the US. Two-way trade with the US is valued at over $8 billion and the US is a leading source of investment, innovation and business ideas. The NZ US Council is actively engaged in co-ordinating business and government efforts towards concluding a comprehensive, high quality result to the TPP negotiations.

ENDS

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