Trade talks concerning the Trans-Pacific Partnership (TPP) "continue to make progress", according to the US, with Canada and Mexico poised to join the next round of negotiations.

The 14th round of TPP talks, which concluded at the weekend in Leesburg, Virginia, involved the US, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.

Described as a "key trade initiative" of the Obama Administration, the TPP is viewed by the US as vital to boosting exports to the Asia Pacific region.

The US said talks had made "further substantial progress" across the 29 chapters of the agreement, including market access, customs, rules of origin, technical barriers to trade, cross border services, telecommunications and government procurement.

In addition, the nine countries continued "to move forward" in the tariff and other market-opening commitments each country is making on a range of industrial goods, including textiles.

The 15th round of TPP negotiations will be held in Auckland, New Zealand on 3-12 December.

September 18, 2012

Source: Just-style

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