Update on the first round of Trans-Pacific Partnership (TPP) negotiations - a strong start

The first formal round of TPP negotiations was held in Melbourne on 15-19 March 2010, with the participation of over 200 officials from Australia, the US, New Zealand, Chile, Singapore, Brunei, Peru and Vietnam. It was a productive first round that got the negotiations off to a strong start.

TPP officials exchanged views on a wide range of issues to be covered by the negotiation and explored new approaches to the obstacles facing businesses in the region, including in emerging sectors and growing areas of international trade such as services, e-commerce and green technology. They focussed on how to make doing business in the region faster, cheaper and easier, and considered in particular how to use the agreement to encourage the participation of small- and medium-sized business in trade.

TPP negotiators discussed how best to develop a framework for this high-quality, broad-based 21st century agreement so that it promotes cross-cutting objectives such as regional integration, regulatory coherence among the TPP partners, competitiveness of the TPP economies, transparency, and development.

TPP Parties agreed on a substantial forward work program including discussion papers on various issues that emerged during the week; new areas that TPP Parties may be able to incorporate in the agreement; and exchange of information on their respective laws, regulations and practices; as well as other matters.

TPP negotiators also discussed the goal of expanding the agreement to countries throughout the Asia-Pacific, including a process for consideration of additional countries. Australia continues to see the TPP as a possible pathway towards achieving the APEC goal of a Free Trade Area of the Asia-Pacific (FTAAP).

The United States offered to host the next round of negotiations, scheduled for the week beginning 14 June 2010 (venue TBC). TPP Parties have tentatively scheduled further rounds in October and December 2010, with a view to making substantial progress by the end of 2011.

Source: http://www.dfat.gov.au/

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