‘Japan and Australia will ensure the TPP agreement comes into force’

Source: www.thestar.com

SYDNEY: Japan and Australia will work together to ensure the Trans-Pacific Partnership (TPP) free trade deal comes into force, Prime Minister Shinzo Abe said, making no mention of strong US opposition.

After talks with Australian Prime Minister Malcolm Turnbull, Abe took the lead on the trade pact co­vering 12 Pacific Rim nations that was ratified by Japan’s parliament last month.

“We agreed that we should demonstrate anew to the world the importance of free trade,” Abe told reporters.

“We confirmed that we would coordinate for the early entry into force of the TPP.”

But he added: “We confirm our intention to maintain solid cooperation also with the incoming Trump administration.”

Turnbull noted, saying: “For both of our nations the United States remains the cornerstone of our strategic and security arrangements.

“We will work closely with the incoming administration, as we have been (doing), to advance the region’s interest and our shared goals.”

US President Barack Obama championed the deal saying it would enable Washington to set the global trade agenda in the face of China’s increasing economic might.

But President-elect Donald Trump has repeatedly shot it down as bad for America and particularly for jobs, casting a dark shadow over its future.

The TPP encompasses some 40% of the global economy and also includes Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Unveiled in 2016 and years in the making, the TPP cannot be implemented in its current form without US ratification.

Abe has made it a pillar of his growth platform to revive exports and the world’s number three eco­nomy.

Trump says he supports free trade but that existing deals, such as the North American Free Trade Agreement between the US, Canada and Mexico, have not been fairly negotiated and do not serve US interests.

Close allies Canberra and Tokyo announced yesterday a new defence deal to facilitate closer logistics support and cooperation during combined exercises, training and peace-keeping operations.

They also unveiled an agreement to exchange sporting expertise with Japan due to host the 2019 Rugby World Cup followed by the summer Olympics in 2020.

The Japanese leader arrived in Sydney from the Philippines on Friday night and will continue today on his trip that will also take in Indonesia and Vietnam. — AFP

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