News / Economy

Q&A: What Are Prospects for Pacific Rim Trade Talks?

Victor Beattie
Trade ministers from the 12 nations of the Trans Pacific Partnership (TPP) gather for a four-day meeting in Singapore starting Saturday to hammer out an agreement on trade negotiations.
 
In addition to the host country, negotiators from Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, the United States and Vietnam will tackle such issues as tariff elimination and intellectual property rights. 

Victor Beattie spoke with two analysts familiar with the issues within the TPP -  Charles Morrison is president of the Hawaii-based East-West Institute and economist Song Seng-wun is with Singapore-based CIMB Research:
 
BEATTIE: U.S. Trade Representative Michael Froman indicated this week that the issues of environmental standards and loss of jobs are overblown – something that maybe happened 20 years ago, but not in 2014.

MORRISON: He may well be right, but many people believe otherwise. In the environmental area, for example, there are basically two points of view. One view is that you can use the free trade agreements to promote environmental protections, and that is the administration’s argument there. But the other view is that you have to hold out for even tougher environmental protections, and so it depends in part whether you see the glass half-empty or half-full.

BEATTIE: What about in Asia, what are the concerns there?

SONG: Cost is only one issue. It’s about tariffs the level of services, the commitment to changes in how businesses are run, you know – all these things. I think these issues are quite close and dear to the U.S. negotiation team, but I think it's probably a bit more ambitious than what some of the members around the table are comfortable with.

BEATTIE: Are the ambitions of the Americans going to impact these negotiations? Will they torpedo these talks?

MORRISON: Well I wouldn't say torpedo, but it makes Mr. Froman’s challenges all the much greater. Negotiating partners don't want to go to their publics and industries and make concessions unless they're sure they're going to get something from the U.S. side.

BEATTIE: In an interview with a Chinese media group this week, Singapore's Prime Minister, Lee Hsien Loong, said TPP negotiators are "very close" to completing the agreement.  Is he right?

SONG:  Certainly, the Singapore PM is cautiously optimistic, but I think voices from around the region – especially from the Malaysian side – indicate we are still far from a deal.  TPP isn’t, you know, your everyday trade deal.  It is at a much higher level, and I suppose encompasses not just trade, but services that are very wide reaching.  I suspect some sort of watered down commitment to talk could still be agreed upon.
 
BEATTIE:
 What about from the North American side?

MORRISON: Well there’s a lot of hope that it will wrapped up this year, but we have experienced with other very large scale free trade agreements like the Proposed Free Trade Agreement of the Americas that they negotiated for 10 years, but were never able to wrap up. So it's like an opera; they say it's never over until the fat lady sings. We haven't seen that yet.

You May Like

Kurdish Party Pushes Political Gamble to Run in Turkey Poll

HDP announces it will run as political party instead of fielding independent candidates in June election, but faces tough 10 percent threshold More

Twitter Targets Islamic State

New research shows suspending Twitter accounts of Islamic State, its supporters has been effective; group, its backers are facing 'significant pressure,' says terrorism expert More

Video Former Sudan 'Lost Boy' Becomes Chess Master in NYC

Majur Juac made the leap from being a refugee in Africa to a master chess champion in US, where he shares his expertise with students More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
NASA Monitors Earth’s Vital Signs From Spacei
X
Rosanne Skirble
January 27, 2015 5:05 PM
The U.S. space agency, NASA, is wrapping up its busiest 12-month period in more than a decade, with three missions launched in 2014 and two this month, one in early January and the fifth scheduled for January 29. As VOA’s Rosanne Skirble reports, the instruments being lifted into orbit are focused on Earth’s vital life support systems and how they are responding to a warmer planet.
Video

Video NASA Monitors Earth’s Vital Signs From Space

The U.S. space agency, NASA, is wrapping up its busiest 12-month period in more than a decade, with three missions launched in 2014 and two this month, one in early January and the fifth scheduled for January 29. As VOA’s Rosanne Skirble reports, the instruments being lifted into orbit are focused on Earth’s vital life support systems and how they are responding to a warmer planet.
Video

Video Saved By a Mistake - an Auschwitz Survivor's Story

Dagmar Lieblova was 14 when she arrived at Auschwitz in December 1943, along with her entire Czech Jewish family. All of them were to die there, but she was able to leave after several months due to a bureaucratic mix-up which saved her life. Now 85, with three children and six grandchildren, she says she has a feeling of victory. This report by Ahmad Wadiei and Farin Assemi, of RFE/RL's Radio Farda is narrated by RFE’s Raymond Furlong.
Video

Video Weekly Protests in Korea Keep Japanese WWII Atrocities Alive

Every week in Seoul protesters gather in front of the Japanese Embassy to demand an apology and reparations from Tokyo for the thousands of South Korean women who were forced into prostitution during World War II. Although this year marks the 70th anniversary of the end of the war, these protestors have helped keep the issue of comfort women alive and made it difficult for Japan to move beyond its past wartime atrocities. VOA's Brian Padden reports from Seoul.
Video

Video Exercise: New Prescription for Parkinsons Disease

Exercise could be the new prescription for Parkinson's Disease, a progressive disorder of the nervous system that affects movement. More than six million people worldwide suffer from Parkinsons and they're traditionally treated with medication and surgery. Shelley Schlender has more.
Video

Video Brussels Shaken as New Greek Leader Challenges Europe’s Austerity Drive

Greece’s youngest-ever prime minister, 40-year-old Alexis Tsipras, was sworn in Monday after his victorious far-left Syriza party entered a coalition with far right rivals. Tsipras says he will restore dignity to Greece by ending spending cuts. So begins a new chapter for the country at the epicenter of Europe’s economic crisis - a change that has sent tremors across the continent, as Henry Ridgwell reports from London.
Video

Video Obama Urges Closer Economic Ties During Historic India Visit

U.S. President Barack Obama says the United States and India must do better to capitalize on untapped potential in their economic relationship - by removing some of the roadblocks to greater trade and investment. As VOA correspondent Aru Pande reports from New Delhi, Obama spoke after participating in India’s Republic Day celebration.
Video

Video White House Grapples With Yemen Counterterrorism Strategy

Reports say the U.S. has carried out a drone strike on suspected militants in Yemen, the first after President Barack Obama offered reassurances the U.S. is continuing its counterterrorism operations in the country. The future of those operations has been in question following the collapse last week of Yemen’s government. VOA White House correspondent Luis Ramirez reports.
Video

Video Worldwide Photo Workshops Empower Youth

Last September, 20 young adults from South Sudan took part in a National Geographic Photo Camp. They are among hundreds of students from around the world who have learned how to use a camera to tell the stories of the people in their communities through the powerful medium of photography. Three camp participants talked about their experiences recently on a visit to Washington. VOA’s Julie Taboh reports.
Video

Video US, Japan Offer Lessons as Eurozone Launches Huge Stimulus

The Euro currency has fallen sharply after the European Central Bank announced a bigger-than-expected $67 billion-a-month quantitative easing program Thursday - commonly seen as a form of printing new money. Henry Ridgwell reports for VOA from London on whether the move might rescue the eurozone economy -- and what lessons have been learned from similar programs around the world.
Video

Video Oil Price Drop Troubles Texas Producers

As oil prices have fallen over the past several months, drilling operations have slowed in some parts of the United States - including Texas, the state that surpasses all others in energy production. The Lone Star State’s energy output has been boosted in recent years by development of resources trapped deep below ground in the Eagle Ford shale deposit, which stretches across south central Texas. As VOA’s Greg Flakus reports from Karnes City, Texas, the drop in oil prices has created concerns,
Video

Video Nigerian Elections Pose Concern of Potential Conflict in 'Middle Belt'

Nigeria’s north-central state of Kaduna has long been the site of fighting between Muslims and Christians as well as between people of different ethnic groups. As the February elections approach, community and religious leaders are making plans they hope will keep the streets calm after results are announced. Chris Stein reports from the state capital, Kaduna.
Video

Video As Viewership Drops, Obama Puts His Message on YouTube

Ratings reports show President Obama’s State of the Union address this week drew the lowest number of viewers for this annual speech in 15 years. White House officials anticipated this, and the president has decided to take a non-traditional approach to getting his message out. VOA White House correspondent Luis Ramirez reports.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid

World Currencies

EUR
USD
0.8815
JPY
USD
117.85
GBP
USD
0.6581
CAD
USD
1.2420
INR
USD
61.404

Rates may not be current.