Trans-Pacific Partnership Contributors Appearance To Move On With Out Us

On the sidelines of last week’s meeting of chief negotiators, Japan’s Kazuyoshi Umemoto said members had decided to embrace a new framework to take into account Washington’s absence.
The 11 chief negotiators are now expected to meet again in August or September, Japanese media reported.
More discussions were needed on whether to revise trade and investment rules from the original pact, he added.
The current “spaghetti bowl of bilateral trade deals” across the region fails to address issues faced by multinational businesses, such as compliance with multi-jurisdictional supply chain regulations and intellectual property rights behind borders, he explained.
A TPP deal is widely expected to address those issues in addition to providing duty-free access for nearly all goods, opening up services and investment and ensuring cross-border data flows.

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