TPP ministerial session in December 2013 ends without final agreement

On December 10, 2013, the Trans-Pacific Partnership (“TPP”) free trade talk was wrapped up a ministerial negotiation session without a full agreement in Singapore.  At the end of the meeting, the statement of the ministers and heads of delegation for the TPP countries announced that they have made “substantial progress” toward completing the TPP.  Although the trade talk missed the December 2013 target for ending the talk, they expressed the member countries identified potential “landing zones” for the majority of key outstanding issues in the text.  They decided to continue their “intensive work” to finalize the agreement and expressed the intention to follow up negotiation work and meet again in January 2014.

 

The key issues to prevent the whole negotiation was the conflict between Japan and the United States, which have had trade in goods issues including Japanese tariffs on farm products as well as auto import in the United States.  They failed to fill the gaps during the key session in Singapore.  In addition to tariff issues, the TPP member states have also agreed to carry over to next year on other remaining issues such as intellectual property rights and reform of state-owned firms.

The TPP has now 12 member states, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam, which represent about 40 percent of world GDP and one-third of world trade. 

The Fifth Round of Negotiations for the Japan-Mongolia EPA

The Fifth Round of the Negotiations for the Japan-Mongolia Economic Partnership Agreement ("EPA") will be held from December 16 to 19, and 24,2013 in Ulaanbaatar, Mongolia.

In this round, negotiations in areas including Trade in Goods, Investment,　E-commerce, Rules of Origin, Customs Procedures, Competition, Cooperation, Dispute Settlement, Sanitary and Phytosanitary Measures (SPS) and Technical Barriers to Trade (TBT) are scheduled to be held.

Third Round of Negotiations on a FTA among Japan, China and Korea

The third round of negotiations on a Free Trade Agreement (“FTA”) among Japan, China and Korea was held in Tokyo, Japan from November 26 to 29.  In this round of negotiations, wide range of areas such as Trade in Goods, Trade in Services, Investment, Competition Policies, Intellectual Property, amongst others, were discussed.  While these three counties have certain political tension in area of territorial disputes and interpretation of wartime history, a Japanese trade ministry official said “The three countries are cooperating and the political discord has not adversely affected the negotiations.”  According to major newspapers, the work plan of the negotiation was presented to three countries, however, customs tariff negotiation in Trade in Goods was not significant progress this time, as the gap of opinion among the countries is still large.  The three countries will work towards holding the next round of negotiations in Korea, around February 2014.

Tokyo, Beijing and Seoul announced the launch of the FTA negotiation in 2012 and held the first meeting in Seoul in late March 2013. The second meeting was held in Shanghai from July to August 2013.  It is targeted to reach substantial agreement of the negotiation by the end of 2014.