TPP meeting fails to reach final agreement

 During the two-day ministerial meeting, they regained momentum for resolving thorny issues of tariffs and market access.
“There has been some progress. Of course it is not entirely satisfactory. We have some way to go on market access issues,” Malaysian Trade Minister Mustapa Mohamed said after the meeting on May 20.
New Zealand’s Minister of Trade Tim Groser, on behalf of the Ministers and Heads of Delegation, said: “We focussed in particular on making meaningful progress on market access and also advanced outstanding rules issues in an effort to narrow our remaining differences.”
According to the New Zealand Minister, the meeting reviewed recent bilateral engagements, including the US-Japan negotiations last month, as well as the results of the Chief Negotiators meeting last week in Ho Chi Minh City.
“In a series of positive meetings we cemented our shared views on what is needed to bring negotiations to a close. In order to further build on the momentum of negotiations, we have decided on a pathway of intensified engagement over the coming weeks on market access and rules,” he said.
The meeting agreed that chief negotiators will meet in July while ministers will continue to engage bilaterally to direct negotiations, coordinate, and tackle the most challenging outstanding issues.
“Our negotiations during this most important period will continue to reflect our long-standing commitment to deliver an ambitious, comprehensive and high-standard agreement consistent with the instructions of our Leaders,” they said in the joint statement.
“We will also continue to be guided first and foremost by our shared desire to create jobs, economic growth and opportunity for the people of our countries,” it added.
Ambassador Michael Froman, head of the United States at the meeting, told the press that there is no particular deadline for the final agreement.
The TPP agreement talks are involved 12 countries bordering the Pacific Ocean, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam