Nine countries engaged in talks for the Trans-Pacific Partnership free trade pact began a five-day meeting Monday in Vietnam, aiming to build consensus for a draft deal, with particular emphasis on the disputed issues of labor and environment.

Representatives of the nine nations, including the United States, had initially aimed to conclude negotiations before the summit of the 21-member Asia-Pacific Economic Cooperation forum in Honolulu in November. Due to a lack of progress in the talks, however, they now only seek to come to a broad agreement by the date.

The countries, which also include Chile, Brunei, Malaysia, New Zealand, Peru, Singapore and Vietnam, are in accord over the immediate lifting of tariffs for 90 percent of the goods to be affected, but remain divided over the remaining 10 percent of key items such as sugar and dairy products, sources involved in the negotiations said.

Ahead of the main consultations by the countries' chief negotiators, representatives had been meeting in Ho Chi Minh City since Wednesday under the various working committees.

Japan, which had earlier planned to decide in June whether to join the TPP negotiations, has put off the decision due to the March 11 earthquake and tsunami disaster.

The meeting in Vietnam will be followed by others in the United States in September and in Peru in October.

June 20, 2011

Source: vneconomynews.com

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