NZ, Japan committed to reviving TPP

Xavier Trudeau
Mai 18, 2017

"The TPP remains valuable both economically and strategically for New Zealand".

"We have worked hard to generate the momentum around it", said English.

Abe made the remarks during a meeting with Moon Hee-sang, a special envoy of South Korean President Moon Jae-in, who was sent to deliver his letter to Abe and discuss summit talks.

Many TPP signatories are expected to attend.

"Today we agreed that renewable energy and agriculture will be two areas which we will focus on in the next few years", Mr English says.

He said that was "the type of thing that happens with negotiation - that you make agreements that sometimes will benefit others".

A Pharmac estimate in 2016 put the cost of implementing the TPP-related amendments at $4.5 million in one-off establishment costs, plus $2.15m ongoing cost each year. Japan is of the same mind as New Zealand as far as revisions go: "Leaving the content untouched is the realistic way to bring [the pact] into effect with 11 nations", a government source said.

The last time was when the WTO reached an agreement and parts of that were shared broadly with other members that had not signed up to parts of that. "Actually Pharmac providing more information probably is a good thing".

"At this time of global uncertainty, it's more important than ever for outward looking trading countries like New Zealand and Japan, who stated their principles clearly, to demonstrate our commitment to worldwide trade and to regional economic integration". The country is prepared to accept the "terms of the agreement as they were negotiated so we can move forward", he pledged.

And that is a foreign policy win for English - and a loss for the opponents of TPP.

"But why would the United States want to re-join if its corporations have already got the benefits of the rules without paying anything for them?"

English also said he told Abe that there "can't be any more changes, other than some technical changes to allow for the implementation without the USA", for the pact to be implemented on the original timetable.

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