TPP deal remains top priority for Obama

tpp

The White House sent a strong signal Monday of its desire to create a huge Pacific free trade area, despite the slippage of its year-end deadline for the 12-nation project.

President Barack Obama gathered senior trade advisors in the Oval Office and invited news photographers to document the meeting, in the wake of the latest ministerial talks last week on the Trans-Pacific Partnership (TPP) in Singapore.

“This remains a top priority of the president because of the positive economic benefits that come from it,” White House spokesman Jay Carney said.

“Congress and the American public have high expectations for the TPP.

“The administration is determined to get the best deal possible, and we are pleased with the progress made towards achieving an ambitious, comprehensive, high-standard agreement.”

Ministers gave up last week on meeting the year-end goal of concluding the TPP, but US Trade Representative Michael Froman, who was in Singapore, and in Obama’s Oval Office consultations on Monday, said significant progress had been made.

Hopes for a swift conclusion of the TPP were dealt a blow when Obama was forced to delay his latest trip to Asia in October over a political crisis in Washington over a government shutdown.

The White House has already announced that the president will return to Asia in April, a trip that may offer new momentum to TPP talks, a centerpiece of Obama’s “re-balancing” towards Asia strategy.

The TPP is being negotiated by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

The potential members make up 40 per cent of the global economy and other countries may join the pact later.

Snags have appeared in negotiations on a number of issues, including opening up Japan’s auto and farm markets, government procurement and limiting the role of state-owned enterprises.

Patent issues — in particular on medicines — have also been a sticking point.

Obama’s meeting on Monday also included Vice President Joe Biden, who was in Asia earlier this month, Treasury Secretary Jack Lew and Commerce Secretary Penny Pritzker.

The talks also focused on Obama’s push to convince Congress to offer him Trade Promotion Authority — which would allow him to fast-track trade deals through Congress.

 

 

 

 

Source : Channel News Asia | December 17, 2013

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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