[CTC] TPP Countries Move Toward Consensus On Feb. 4 Signing In New Zealand

[Arthur Stamoulis]

Inside U.S. Trade
Daily News
TPP Countries Move Toward Consensus On Feb. 4 Signing In New Zealand
Posted: November 18, 2015
Trans-Pacific Partnership (TPP) leaders during a meeting Wednesday (Nov. 18) in the Philippines moved toward consensus on a proposal to sign the agreement on Feb. 4 in New Zealand, but have not yet formally endorsed that date, according to informed sources. The signing would be attended by the TPP ministers, they said.
The proposal was made by New Zealand, which is the formal depositary for the agreement. It would put the signing date just one day after Feb. 3, which is the earliest date President Obama can sign the TPP agreement under the 2015 fast-track law.
That law required the president to notify Congress of his intent to sign a trade agreement at least 90 days before doing so. Obama on Nov. 5 notified Congress of his intent to sign TPP.
The discussion of the signing date was not mentioned in a joint statement <http://insidetrade.com/node/151135> released after the TPP leaders' meeting, in which the leaders congratulated their negotiators on reaching the deal and called for it to be ratified expeditiously.
“We look forward following signature to the expeditious consideration and approval of the TPP, consistent with each of our domestic processes,” the statement said. “We will then focus on fully implementing it, so that our consumers, workers, farmers, and businesses both large and small can begin to realise its shared benefits as swiftly as possible and the better future that the TPP represents.”
Obama delivered a similar message in remarks ahead of the meeting. “Today, we’re going to discuss the road ahead to ensure that TPP is enacted in each of our countries as swiftly as possible. Obviously, execution is critical after we have arrived at the text,” he said, according to a White House transcript.
But Australian Prime Minister Malcolm Turnbull told reporters on Wednesday that the biggest challenge to TPP entering into force is securing the approval of the U.S. Congress, although he said President Obama remains optimistic about its prospects. The two leaders met bilaterally on Tuesday.
“Now, you’ve asked me about whether the TPP will be accepted … [and] the principal challenge I would see is its ratification by the U.S. Congress,” Turnbull said, according to a transcript posted on his website. “The President is optimistic about it being passed by the Congress, but that is, that seems to me to be the major domestic obstacle.”
“Across-the-board, in so far as there have been domestic concerns about the TPP, they appear to have been most strongly expressed in the United States,” he added. “So, that’s President Obama's challenge, we obviously encourage all those legislators in Washington to give the TPP their support, but I imagine they will be taking the advice of their own constituents rather than foreign governments.”
President Obama downplayed the difficulty of securing congressional passage in remarks to reporters following a bilateral meeting Wednesday with Philippine President Benigno Aquino, saying trade deals are always tough to pass in the U.S. but ultimately get done. He also expressed confidence that Congress would ultimately approve TPP.
“There is not a trade deal that has been done in modern American politics that’s not occasionally challenging, but we get it done,” he said, according to a White House transcript. “And I’m confident we’re going to be able to get it done.”
The TPP leaders in their joint statement acknowledged that other countries have shown interest in joining the agreement but did not explicitly encourage new entrants. Instead, they emphasized that their immediate focus is ratifying and implementing the deal.
“While our focus is on approval and implementation of the results of negotiations with our current partners, we have also seen interest from a number of economies throughout the region,” the statement. “This interest affirms that through TPP we are creating a new and compelling model for trade in one of the world’s fastest growing and most dynamic regions."
President Obama delivered a more welcoming message in his remarks with Aquino, whose country has expressed an interest in joining TPP.
“We welcome the Philippines’ interest in TPP,” Obama said. “And we’ve directed our trade ministers to have discussions about how TPP is going to be implemented among the original 12 countries, and how we can work with the Philippines to follow through on their interest. TPP is designed to be an open and inclusive trade pact for countries that can meet its high standards.”
For his part, Aquino signaled that joining the TPP is a politically controversial issue in the Philippines and that the country would not be in a position to do so until after its presidential election slated for May 9, 2016.
 “With regards to trade, we have a political system that is very similar to that that exists in the United States of America. We are both facing elections come next year. We recognize the pressure to make [populist] statements at this point in time,” Aquino said.
“At the end of the election period, there will be sobriety, and the argument that not opening ourselves up to a bigger market and freer access to that bigger market cannot be made. Therefore, we think that once elections are over, that current voice will die down and there will be new champions of increased free trade amongst all countries,” he added.
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