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Dec 08, 2013 / 15:21

TPP ministerial meeting kick-started in Singapore

The Trans-Pacific Partnership (TPP) Ministerial Meeting was kicked off on December 7 in Singapore with the participation of trade ministers and officials from the 12 TPP parties.

Taking place on December 7-10, the plenary session would focus on trade liberalization in goods, services, investments, and government procurement.

In addition, delegates would talk about intellectual property rights, technical barriers to trade, labor and environment, agriculture, investment, financial services, telecommunications and State-owned enterprises.

The trade ministers of Singapore, Canada and New Zealand; the vice ministers of Chile and Japan; the TPP chief negotiators of Australia, Brunei, Malaysia, Mexico, Peru and Viet Nam; and the US Trade Representative discussed issues relating to goods and e-commerce.

All the 12 TPP countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Viet Nam are also members of the Asia Pacific Economic Cooperation (APEC).

The TPP members made up almost 40% of global GDP and about one-third of global trade.