Next TPP Summit to be Held in October

The 12 countries involved in the Trans-Pacific Partnership free trade negotiations reaffirmed Friday their commitment to concluding a regional free trade agreement within this year as they wrapped up the ministerial meeting of their 19th round of talks in Brunei.

But the ministers also indicated in a joint statement adopted at the end of their two-day meeting that difficult issues remain in numerous fields.

“The TPP countries have explored how to develop a mutually-acceptable package, including possible landing zones on remaining sensitive and challenging issues and sequencing of issues in the final talks,” the statement said, adding particular areas of focus include market access, financial services, government procurement and intellectual property.

The ministers agreed to maintain “active engagement” in the run-up to the Asia-Pacific Economic Cooperation leaders’ meeting in Bali, Indonesia, in October and said the leaders of the TPP countries are expected to meet on the margins of the meeting as they have in previous years.

“This meeting will be an important milestone as the 12 countries work intensively to conclude this landmark agreement,” the joint statement said.

The successful conclusion of the pact will create one of the world’s largest free trade areas as the members include Japan, which only joined from the July round of talks, and the United States.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza