4 August, 2015
No agreement has been made on the Trans-Pacific Partnership (TPP), despite the trade ministers from each of the negotiating countries being locked in negotiations in Maui, Hawaii during the last four days of July.
However, significant progress has been reported and there are only a limited number of issues that remain outstanding. Those issues remain in large part the 'traditional' trade issues about access to markets, especially agricultural markets. There are some issues remaining in relation to data protection and other 'regulatory' issues.
The Ministers have reported that in the coming period, they will be engaging in bilateral or multilateral discussions (depending on the particular issue) to seek to resolve the final differences. We expect that there can be a resolution of these differences in the near future.
To read the joint statement released by the TPP Ministers at the end of these negotiations – click here.
The TPP remains an ambitious agreement that is much more than a Free Trade Agreement. The complex negotiations reveal the importance of the issues to each negotiating state and the economic architecture of the region as a whole.
Our TPP team will keep you updated as soon as any progress is announced. If you would like to speak to one of our regional or sector specialists about how the TPP may affect your business, please do not hesitate to contact one of the TPP key contacts.
For further information, please contact:
Patrick Gay, Partner, Herbert Smith Freehills
patrick.gay@hsf.com
