Labor joins Coalition in backing larger trade deal to replace TPP

Written on the 21 November 2016

Labor joins Coalition in backing larger trade deal to replace TPP Labor has signalled its support for the concept of a much larger trade agreement than the Trans-Pacific Partnership.

The Turnbull government has sent similar signals after the election of Donald Trump, given the likely failure of the TPP.

A new consensus is emerging in Canberra in the lead-up to a meeting this weekend of the Asia-Pacific Economic Cooperation group in Peru.

The trade minister, Steve Ciobo, is already at the Apec summit, and the prime minister, Malcolm Turnbull, left for Peru on Thursday night.

Ciobo travelled to the meeting prepared to talk seriously to China about a relatively unknown trade deal, called the Free Trade Area of Asia Pacific, which is being advanced by the Chinese government.

The FTAAP would involve 21 countries, making it much larger than the 12-country TPP.

One widely cited study estimates the gains from FTAAP would be eight times that of the TPP close to $2tn, or roughly 2% of world gross domestic product in 2025.

Click HERE to read more.

Source:  The Guardian


Upcoming Events

Latest news

Projects, Jobs in pipeline

Sheffield Resources' Thunderbird mineral sands project would be at a site on the Dampier Peninsula, between Derby and Broome Several multimillion-dollar projects lining up in the Kimberley are set to generate hundreds of new jobs and bolster flat economies in Broome and Derby. The pipeline of prosperity is almost ready to flo...

Read More

Articles via RSS rss

Sign Up for the latest news & events

Does your business attract, recruit and retain staff by offering employment or work experience to young Aboriginal employees?
CLICK HERE to become a Working Together Employer of Choice.

 

Members

We are located at:

6 Napier Tce
(behind the Westpac bank)
Broome
WA 6725

Chamber office hours

Monday: 10am - 3pm
Tuesday: 10am - 2pm
Wednesday: 10am - 3pm
Thursday: 10am - 2pm
Friday: 10am - 2pm

Please ring for an appointment

Phone

(08) 9193 5553

After Hours

0410 967 509