AIRLINK 80.80 Increased By ▲ 2.41 (3.07%)
BOP 5.32 Decreased By ▼ -0.02 (-0.37%)
CNERGY 4.42 Increased By ▲ 0.09 (2.08%)
DFML 33.19 Increased By ▲ 2.32 (7.52%)
DGKC 78.95 Increased By ▲ 0.44 (0.56%)
FCCL 20.67 Increased By ▲ 0.09 (0.44%)
FFBL 32.45 Increased By ▲ 0.15 (0.46%)
FFL 10.37 Increased By ▲ 0.15 (1.47%)
GGL 10.44 Increased By ▲ 0.15 (1.46%)
HBL 118.89 Increased By ▲ 0.39 (0.33%)
HUBC 135.65 Increased By ▲ 0.55 (0.41%)
HUMNL 6.80 Decreased By ▼ -0.07 (-1.02%)
KEL 4.59 Increased By ▲ 0.42 (10.07%)
KOSM 4.84 Increased By ▲ 0.11 (2.33%)
MLCF 38.70 Increased By ▲ 0.03 (0.08%)
OGDC 134.10 Decreased By ▼ -0.75 (-0.56%)
PAEL 23.80 Increased By ▲ 0.40 (1.71%)
PIAA 27.05 Increased By ▲ 0.41 (1.54%)
PIBTL 7.03 Increased By ▲ 0.01 (0.14%)
PPL 113.30 Decreased By ▼ -0.15 (-0.13%)
PRL 28.04 Increased By ▲ 0.31 (1.12%)
PTC 15.01 Increased By ▲ 0.41 (2.81%)
SEARL 58.34 Increased By ▲ 1.84 (3.26%)
SNGP 67.80 Increased By ▲ 1.50 (2.26%)
SSGC 11.24 Increased By ▲ 0.30 (2.74%)
TELE 9.34 Increased By ▲ 0.19 (2.08%)
TPLP 11.80 Increased By ▲ 0.13 (1.11%)
TRG 72.70 Increased By ▲ 1.27 (1.78%)
UNITY 25.01 Increased By ▲ 0.50 (2.04%)
WTL 1.41 Increased By ▲ 0.08 (6.02%)
BR100 7,551 Increased By 57.8 (0.77%)
BR30 24,817 Increased By 258.7 (1.05%)
KSE100 72,519 Increased By 467 (0.65%)
KSE30 23,898 Increased By 90.2 (0.38%)

WASHINGTON: Nine Pacific nations including the United States are moving ahead on building an ambitious free trade zone, but few believe they will meet a self-imposed November deadline as criticism mounts.

President Barack Obama brought the United States into talks on the Trans-Pacific Partnership (TPP) in 2009, breathing new life into a once-obscure group and giving him a chance to shape his own trade agenda.

The US Trade Representative's office reported "considerable progress" during talks that closed Friday and called for "as much progress as possible" before a November summit in Hawaii of the Asia-Pacific Economic Cooperation (APEC) bloc.

Trade Minister Lim Hng Kiang of Singapore, the host of the week-long talks, also spoke of forward movement but said:

"It will take time and commitment to reach a consensus on all issues."

The TPP involves nine APEC members Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, the United States and Vietnam.

Asia's two largest economies, China and Japan, are not part of the group but have not ruled out joining.

"No one expects a full agreement with every 'i' dotted and every 't' crossed by November," said Representative Rick Larsen, a member of Obama's Democratic Party from export-reliant Washington state.

But, he added:

"There is an expectation that there will be a big step forward on negotiations."

With nine countries involved, there is no shortage of disputes and criticism has come not just from the usual critics of globalization.

Representative Don Manzullo, a Republican who heads the House Foreign Affairs subcommittee on East Asia and supports free trade in principle, has voiced concern over lack of protection for intellectual property under the TPP.

New Zealand is considering ending patents for software on the grounds that such protections stifle innovation.

"We need to look after American interests first and not just sign an agreement because it helps our engagement in Asia," said Nien Su, a senior aide to Manzullo.

Several lawmakers from US dairy states have demanded that the sector be taken off the table in the TPP. New Zealand is the world's biggest dairy exporter, led by Fonterra, the country's largest company.

In turn, left-leaning activists in Australia, New Zealand and elsewhere have expressed concern that US exporters would force up prices of medicine and bring in genetically modified foods that do not meet local regulations.

Lori Wallach, director of US advocacy group Public Citizen's Global Trade Watch, warned against a free trade pacts that involves nations with controversial records on labor rights, particularly Vietnam.

Wallach said that even if the TPP is reached by November, it would prove risky for Obama to seek its approval by Congress in 2012, when he is up for re-election.

"These are fights that can be avoided. It's like backing up into a meat grinder," she said of Obama's policy.

Obama is already embroiled with a trade feud in Congress as he seeks approval of a pact with South Korea but Republicans press him to finalize agreements with Colombia and Panama as well.

Secretary of State Hillary Clinton, in a speech to an APEC meeting in March, said the TPP offered a chance to create "a new kind of trade agreement" that "promotes not just more growth, but better growth" and could be expanded eventually to the whole Asia region.

Calman Cohen, who heads the Emergency Committee for American Trade business group, said the TPP would give the United States a seat as the dynamic region shapes its economic future.

The pact would also boost relations with all eight countries, which "will aid the United States as it seeks to advance other important priorities that are beyond the scope of a trade agreement," Cohen said.

Walter Lohman, director of the Asian Studies Center at the conservative Heritage Foundation, said the TPP could help keep the APEC bloc relevant.

The United States has striven to be part of Asia's institutions as China rises.

But Lohman called for more political will to match negotiators' energy level.

The call for "'as much progress as possible' is just not the kind of goal that is going to inspire the commitments necessary to complete it in any relevant timeframe," Lohman said.

                           

Copyright AFP (Agence France-Presse), 2011

Comments

Comments are closed.