Singapore warmly welcomes Japan’s participation in the Trans-Pacific Partnership (TPP) negotiations. We are confident that Japan will be a valuable partner in the development of a high quality agreement to spur economic growth across the Asia-Pacific region.
Singapore has consistently and strongly expressed support for Japan’s early participation in the TPP. Japan has long played a crucial role in the development of the Asia Pacfic and thus maintaining its stability. As the world’s third largest economy, Japan’s inclusion has further raised the strategic and economic significance of the TPP and reinforced the agreement’s strategic vision of advancing regional economic integration and promoting regional development and stability. Japan’s membership in the TPP will also encourage Japan’s domestic growth and help its overall economic revitalisation. Singapore looks forward to Japan participating as soon as possible and contributing to the negotiations.
With Japan’s inclusion, the TPP’s membership has expanded to 12 countries representing nearly 40% of the global economy and one-third of world trade. The TPP is envisioned as an inclusive agreement that will lead to an eventual Free Trade Area of the Asia-Pacific. Singapore welcomes all countries in the region that will contribute to the TPP’s objective of advancing regional economic integration.
Please refer to Annex for the full joint statement by Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, United States of America and Vietnam.
MINISTRY OF FOREIGN AFFAIRS
MINISTRY OF TRADE AND INDUSTRY
21 APRIL 2013
For media enquiries, please contact:
Ms Chua Ai Ni
Public Affairs Officer
Public Affaris Directorate
Ministry of Foreign Affairs
Tel: (+65) 6379 8376 / 9831 2378
E-mail: chua_ai_ni@mfa.gov.sg
Ms Serene Ow
Senior Assistant Director
Corporate Communications Division
Ministry of Trade and Industry
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E-mail: serene_ow@mti.gov.sg
ANNEX
Joint Statement by TPP Members
Trans-Pacific Partnership Ministers Chart Path Forward on Key Issues and Confirm Next Steps on Japan’s Entry
Surabaya, Indonesia - The trade ministers of the 11 Trans-Pacific Partnership (TPP) countries -- which include Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam -- met on the margins of the Asia-Pacific Economic Cooperation (APEC) meeting of Ministers Responsible for Trade to chart a path forward on the remaining issues that will enable them to conclude the negotiations on a 2013 timeframe as instructed by TPP Leaders. They also discussed the status of their discussions with Japan on its interest in joining the TPP.
As the negotiating teams prepare for the next round in Lima, Peru, set for May 15-24, ministers agreed on next steps to advance the TPP talks in a range of areas. They directed negotiators to complete their work on some chapters and to accelerate progress on more challenging issues that remain including intellectual property, competition/State-owned enterprises, and environment, as well as on the market access packages for goods, services/investment, and government procurement. Ministers committed to intensifying their own engagement over the coming months to work out solutions to outstanding sensitive issues and to achieve the TPP Leaders’ objective of a high-quality, ambitious, and comprehensive agreement this year.
Ministers also confirmed that each TPP member has concluded bilateral consultations with Japan regarding Japan’s interest in joining the TPP. Today, Ministers agreed by consensus to finalize with Japan the process for entry in a manner that allows the negotiations to continue expeditiously toward conclusion – as was done with other members that joined the negotiations in progress. Japan can then join the TPP negotiations upon completion of current members’ respective domestic processes.
With Japan’s entry, TPP countries would account for nearly 40 percent of global GDP and about one-third of all world trade. TPP Ministers noted that Japan’s participation in the negotiation will underscore the economic significance of TPP and its promise as a pathway toward a Free Trade Area of the Asia Pacific.