Regional trade alliances build momentum

Eleven countries still actively seeking completion of TPP while the Pacific Alliance adds new members.

1 Min Read
Regional trade alliances build momentum

As the United States continues to focus on renegotiation of existing free trade agreements, regional trade alliances are gaining momentum. At an Asia-Pacific Economic Cooperation meeting in Vietnam this week, a senior official with Japan’s finance ministry said the country remains strongly committed to a potential Trans-Pacific Partnership trade agreement with the 11 countries still actively seeking to complete the agreement following the United States’ departure.While citing the possibility of negotiating bilateral agreements, he said TPP-11 is Japan’s No. 1 trade priority.

Meanwhile, the Pacific Alliance will meet on Oct. 23 to explore the addition of new alliance members. The Pacific Alliance — currently comprised of Chile, Colombia, Mexico and Peru — is considering Australia, Canada, New Zealand and Singapore as new members. The Pacific Alliance is an agreement that covers trade protocol and includes a visa waiver program and financial integration between member countries. Other than Columbia, these countries are also engaged in the effort to revive TPP-11, raising the prospect of an even larger multilateral Asia-Pacific trade agreement.

Subscribe to Our Newsletters
National Hog Farmer is the source for hog production, management and market news

You May Also Like