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

Republican Majority in Congress Off to Rough Start

Standoff over Homeland Security funding exposes philosophical, tactical problems within party More

Pakistan Blocks Baloch Activist from US Trip

Human Rights Commission of Pakistan slams Islamabad officials for stopping people from leaving country to attend human rights conference More

Video Muslims Long Thrived in North Carolina Before Students Killed

Idyll shattered February 10, when three Muslim university students living in Chapel Hill were gunned down by a neighbor More

ILO: Women Still Losing Out in Global Work Place

International Labor Organization says women are marginally better off now than they were 20 years ago More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Muslims Long Thrived in N Carolina Before Slaying of 3 Studentsi
X
Jerome Socolovsky
March 05, 2015 9:04 PM
The killings of three Muslim students in North Carolina early last month came as Muslims across the United States have felt under siege, partly as a result of terrorist attacks being committed internationally in the name of their faith. But Muslims have long thrived in university cities in this part of the American South. VOA's Jerome Socolovsky reports.
Video

Video Muslims Long Thrived in N Carolina Before Slaying of 3 Students

The killings of three Muslim students in North Carolina early last month came as Muslims across the United States have felt under siege, partly as a result of terrorist attacks being committed internationally in the name of their faith. But Muslims have long thrived in university cities in this part of the American South. VOA's Jerome Socolovsky reports.
Video

Video Fuel Shortages in Nigeria Threaten Election Campaigns

Nigeria is suffering a gas shortage as the falling oil price has affected the country’s ability to import and distribute refined fuels. Coming just weeks before scheduled March 28 elections, the shortage could have a big impact on the campaign, as Henry Ridgwell reports for VOA.
Video

Video Report: Human Rights in Annexed Crimea Deteriorating

A new report by Freedom House and the Atlantic Council of the United States says the human rights situation in Crimea has deteriorated since the peninsula was annexed by Russia in March of last year. The report says the new authorities in Crimea are discriminating against minorities, suppressing freedom of expression, and forcing residents to assume Russian citizenship or leave. Zlatica Hoke has more.
Video

Video 50 Years Later African-Americans See New Voting Rights Battles Ahead

Thousands of people will gather to mark the 50th anniversary of a historic civil rights march on March 7th in Selma, Alabama. In 1965, dozens of people were seriously injured during the event known as “Bloody Sunday,” after police attacked African-American demonstrators demanding voting rights. VOA’s Chris Simkins introduces us to some civil rights pioneers who are still fighting for voting rights in Alabama more than 50 years later.
Video

Video Craft Brewers Taking Hold in US Beer Market

Since the 1950’s, the U.S. beer industry has been dominated by a handful of huge breweries. But in recent years, the rapid rise of small craft breweries has changed the American market and, arguably, the way people drink beer. VOA’s Jeff Custer reports.
Video

Video Video Claims to Show Shia Forces in Iraq Executing Sunni Boy

A graphic mobile phone video is spreading on the Internet, claiming to show Iraqi forces or Shia militia executing a handcuffed Sunni boy. Experts have yet to verify the video, but already Islamic State followers are publicizing it across social media, playing on deep-rooted sectarian fears. VOA’s Jeff Seldin reports.
Video

Video Ukrainian Authorities Struggle to Secure a Divided Mariupol

Since last month's cease-fire went into effect, shelling around the port city of Mariupol has decreased, but it is thought pro-Russian separatists remain poised to attack. For the city’s authorities, a major challenge is gaining the trust of residents, while at the same time rooting out informants who are passing sensitive information to the rebels. Patrick Wells reports for VOA.
Video

Video Volunteer Gauge-Watchers Help Fine-Tune Weather Science

An observation system called CoCoRaHS is working to improve weather science, thanks to thousands of volunteers across the country who measure precipitation in their own backyards, then share their data through the Internet. VOA's Shelley Schlender reports.
Video

Video NASA Spacecraft Approaches a Dwarf Planet

NASA’s Dawn spacecraft will make history on Friday, March 6, when it becomes the first man-made object to orbit a dwarf planet named Ceres. It is located in the asteroid belt between Mars and Jupiter, almost 500 million kilometers from Earth. Among other objectives, Dawn will try to examine two mysterious bright white spots detected on the planet’s surface. VOA’s George Putic has more.
Video

Video Young Muslims Radicalized Online

Young Muslims are being radicalized ‘in their bedrooms’ through direct contact with Islamic State or ISIL fighters via the Internet, according to terror experts. There are growing concerns that authorities and Internet providers are not doing enough to counter online extremism - which analysts say is spread by a prolific network of online supporters around the world. Henry Ridgwell reports from London.
Video

Video Positive Messaging Transforms Ethiopia's Image

Ethiopia was once known for famine and droughts. Now, headlines more often point to its fast-growing economy and its emergence as a regional peacemaker. How has Addis Ababa changed the narrative? VOA's Marthe van der Wolf reports.
Video

Video Answers Elude Families of MH370 Passengers

For the families on board Malaysia Airlines flight MH370, an airline official’s statement nearly one year ago that the plane had lost contact with air traffic control at 2:40 AM is the only thing that remains confirmed. William Ide reports.

All About America

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

World Currencies

EUR
USD
0.9034
JPY
USD
120.24
GBP
USD
0.6550
CAD
USD
1.2440
INR
USD
62.254

Rates may not be current.