Japan hopes to join next round of TPP talks in KL

JAPAN has appealed to Malay-sia, one of the member countries of the Trans Pacific Partnership (TPP), to support its request for an extension of the ongoing talks.

The extension is to enable Japan to join the next round of discussions to be held here in July, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed at his first press conference yesterday after being reappointed as minister. 

The current round of talks by the 11 participating countries - Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam - started in Lima, Peru, on Wednesday and will end next Friday. 

Although the 11 countries have endorsed its entry into the "21st Century free trade talks", Japan is waiting for the green light from the US Congress.

According to the US Trade Representative Office, the Congress was notified of its intent to include Japan in the TPP negotiations on April 24. 

This means the US must give the decision-making body 90 days' notice before starting negotiations with Japan.

If Kuala Lumpur were to extend the discussion period at the next round, Japan would be able to start its negotiations, although the TPP talks had commenced in March 2010.

Mustapa said he received a call from his Japanese counterpart Toshimitsu Motegi last month requesting support for the extension.

"But the TPP is based on a consensus and the feedback I got (then) was that there was no consensus yet," he said.

On the Regional Comprehensive Economic Partnership (RCEP), he said the inaugural round of talks was held in Bandar Seri Begawan last week.

RCEP, an alliance between Asean member countries and six dialogue partners, namely Australia, China, India, South Korea, Japan and New Zealand, will transform the region into an integrated market of more than three billion people with a combined gross domestic product of US$17.23 trillion (RM52.03 trillion).

The talks, which have set up three initial working groups on goods, services and investment, are targeted to conclude by end-2015.

The next round of talks will be held in Brisbane from September 24 to September 27.

On Malaysia's first quarter 4.1 per cent growth, Mustapa said the number was good based on the uncertainties in the international environment.

"We have to work harder over the next few quarters to achieve the projected five to six per cent growth for this year, and ensuring that trade and investments contribute towards the set targets."

He said the trade projection has been maintained at four to five per cent this year. Efforts will also be stepped up to enhance the country's competitiveness in the global rankings so as to attract quality investments, which will lead to better employment opportunities.

Mustapa will be visiting the various states, including the high-technology parks in Kedah, in the coming months.

May 18, 2013

Source: btimes.com.my