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But if international negotiators working on the Trans Pacific Partnership agreement can get past the self-interest by those countries — and others — on the agricultural “untouchables”, then there is potential to create a huge trade boom in Pacific Rim countries.
“If there is a breakthrough on sugar, a whole bunch of other things will come into play,” former US House of Representatives senior staffer Bruce Wolpe told an American Chamber of Commerce forum in Melbourne last week.
Ardele Blignault, vice-president of government affairs and policy with General Electric, told the forum five of the 12 nations taking part in negotiations were among Australia’s top trading partners.
The countries involved had a combined GDP of $US28 trillion.
Former US trade negotiatior and World Trade Organisation deputy director-general Andrew Stoler told the forum any successful negotiation would be incomplete unless South Korea, Taiwan and China joined in.
Source: Weekly Times Now