The source said 11 TPP member countries wanted to introduce trade agreement amendments

On August 28, 2017, representatives of member states attended the opening ceremony of the Summit of the Summit of the Transpacific Partnership (TPP) held in Sydney, Australia.

Reuters August 29 reported that on the 28th, “Transpacific Pacific Partnership Agreement” (TPP) member states in Sydney, Australia to meet and negotiate. According to sources, its 11 member states are considering introducing new amendments to restart the previously stalled trade agreements.

According to informed sources, during the discussion, Vietnam proposed to adjust the original agreement in the labor rights and intellectual property provisions.
According to the report, the outside world has always believed that Vietnam can enter the US market through a wider market access, becoming one of the largest beneficiaries from TPP. With the US President Donald Trump announced in January to withdraw from the agreement to reduce trade barriers for the purpose of TPP is in trouble, the original 12 member countries reduced to 11.

 

Trump’s move is in line with its “US priority” election declaration, hoping to make more manufacturing back to the United States. Subsequently, although the remaining member states publicly expressed support for the agreement, but the implementation of TPP has been stagnant, and the other countries to follow the United States to withdraw from the TPP agreement is also growing. According to reports, TPP 11 member countries of the gross domestic product totaled 12.4 trillion US dollars
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According to people familiar with the matter, TPP members of the 11 member states are considering adjusting the original TPP agreement for the sake of consolidation of Member States.
“We hope to choose a viable alternative within our reach,” said Edgar Vasquez, vice minister of trade at Peru.

It is reported that despite the three-day meeting of the three-day meeting may not be able to reach an agreement, but Vietnam hopes to shelve the intellectual property provisions of the pharmaceutical data proposal, may win a wide range of support. Representatives from Japan and New Zealand also expressed their support.

Analysts said the original TPP agreement is particularly troublesome for Vietnam, for which Vietnam has to make major reforms. “If they do not intend to enter the US market, it does not make much sense to accept the drug monopoly clauses they do not want to accept.” The original TPP agreement stipulates that competitors need to be in the eight-year window period, “said Patricia Ranald, research assistant at the University of Sydney. After the use of proprietary pharmaceutical data. Critics believe that this will undermine the development of cheap generic drugs.

However, the report said that the proposed amendment requires a comprehensive and comprehensive consideration. Although Trump said it would not change its position on the TPP issue, the remaining members would still hope that the future US president would be able to fulfill the agreement.

Analysts said that if the original agreement to make a substantial adjustment, although access to some member states to support, but also may be the United States pushed the agreement. “The more you adjust, the harder it is for the United States to join in a willing situation,” said Shiro Armstrong, a researcher at Crawford School of Economics at Australian National University.

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