TPP Meet in Sydney 25-27 Oct, Annual Meet in Nov

Members of the 12-country Trans-Pacific Partnership (TPP) talks appear to be ramping up their negotiating efforts in the hopes of reaching the main elements of an agreement by the end of this year, with Australia confirming last week that it would be hosting a ministerial-level meeting in Sydney later this month.

“After more than four years of intense negotiations the conclusion of the world’s largest regional trade agreement is within reach,” said Australian trade minister Andrew Robb in a statement announcing the 25-27 October meeting.

The goal of the event, the trade minister’s office said, was to advance the talks “with an eye to concluding the basic elements of the agreement before the end of the year.”

Robb had previously been one of the officials suggesting that a completed TPP would be unlikely this year, and was more likely for early 2015.

The announcement has also prompted speculation that a basic TPP deal could be ready in time for US President Barack Obama’s trip to Asia next month for the Asia-Pacific Economic Cooperation (APEC) leaders’ meetings, despite earlier scepticism over the feasibility of this goal.

All 12 TPP members are part of the 21-country regional group, which will be having its annual gathering in China this November. The US executive has said that he would like to see some sort of document that Congress and the public could look at by that time.

Eyes on US, Japan

Whether the US and Japan will be able to resolve their differences on agricultural and automobile trade in time for the Sydney meeting is unclear, particularly given that ministerial-level meetings last month between US Trade Representative (USTR) Michael Froman and Japanese Trade and Economy Minister Akira Amari failed to yield any significant breakthroughs.