International Trade Daily™ provides rapid, reliable notification of the most significant developments affecting U.S. trade and international business policy, as well as the policies of major U.S....
Eleven countries, including China, Japan and South Korea, so far have confirmed they will attend a summit next month in Chile to discuss opportunities to develop tighter trade relations across the Pacific since President Donald Trump withdrew the U.S. from the Trans-Pacific Partnership.
Chile’s Foreign Affairs Ministry told Bloomberg BNA in a Feb. 20 e-mail that Australia, New Zealand, Canada, Malaysia and Singapore are also expected to participate in the meeting, officially titled “High Level Dialogue on Integration Initiatives in the Asia-Pacific: Challenges and Opportunities.”
The summit will take place March 14-15 in the beach resort of Vina del Mar. The meeting aims to give new impetus to the cause of trade in the region, but it also will consider some of the misgivings that people worldwide feel about the disruption caused by globalization in recent decades, the ministry told Bloomberg BNA.
“The meeting will seek to reaffirm the commitment to free trade and the processes of economic integration as well as reflect on aspects of globalization which have generated inequality,” the ministry said.
The summit has been called by the Pacific Alliance, a group formed in 2012 by Chile, Colombia, Mexico and Peru to form ties with economies in East Asia. Chile currently holds the rotating presidency of the bloc. Colombia is the only member of the alliance that didn’t participate in the TPP talks.
The ministry said invitations had been sent to the ministers of foreign affairs and trade from the Pacific Alliance, the signatory countries of the TPP, as well as China and South Korea “as significant players in international trade in the Asia Pacific region.”
China was excluded from the TPP talks. Former President Barack Obama had made the TPP the cornerstone of his pivot toward Asia and part of his administration’s efforts to counter China’s growing influence in the region. However, days after taking office, President Donald Trump signed a presidential memorandum withdrawing the U.S. from the agreement, which he called a job-killer and bad for the American economy.
The two-day conference will include a meeting between ministers from the Pacific Alliance, a day involving the authorities from the TPP signatory countries and a high-level ministerial meeting involving all the countries in attendance.
The conversations are expected to consider how to push greater regional integration, taking as their foundation existing models such as the Pacific Alliance, the TPP and the Regional Comprehensive Economic Partnership (being negotiated between the 10-member Association of Southeast Nations (ASEAN) plus Australia, China, India, Japan, New Zealand and South Korea).
As well as lowering import tariffs, ministers attending also will discuss how to include other issues, such as the environment, labor standards, transparency, non-tariff barriers, anti-corruption, competition policies and female participation in international trade, into any eventual trade agreement.
“This dialogue will allow us to tackle with creativity, dynamism and conviction the challenges we face,” the ministry said.
To contact the reporter on this story: Tom Azzopardi in Santiago at firstname.lastname@example.org
To contact the editor responsible for this story: Jerome Ashton at email@example.com
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)