africannewsdigest.com

Monday
Apr 24th
Text size
  • Increase font size
  • Default font size
  • Decrease font size
Home Latest

Latest

The latest news from the Joomla! Team

TPP minus US to be discussed in May: Japan deputy PM Aso

TPP minus US to be discussed in May: Japan deputy PM Aso

 

Vietnam and others are likely to push for changes to the trade pact

SETSUO OTSUKA, Nikkei staff writer

 

Japan's Deputy Prime Minister Taro Aso speaks at Columbia Business School in New York April 19.© Reuters

NEW YORK -- The participants in the Trans-Pacific Partnership agreement, minus the U.S., will begin talks on implementing the free trade deal in May, Japan's Deputy Prime Minister Taro Aso said in a speech in New York on Wednesday.

The TPP's 11 remaining member nations will start negotiations "over putting the deal into effect, without the world's largest economy, at the Asia-Pacific Economic Cooperation meeting in May," Aso said. The talks will be held in conjunction with APEC's meeting of trade ministers in Hanoi in mid- to late-May.

Japan is looking to ratify a joint declaration during the meeting that will direct working-level staff to come up with ways of implementing the trade deal without the U.S.

Aso said that multilateral negotiations such as the TPP create a situation where "Japan stands to gain from other countries, even if it loses out in some respects to other countries, like the U.S."

He appeared to throw cold water on the bilateral approach to trade preferred by U.S. President Donald Trump, saying a two-way negotiation does not offer the same scope for beneficial trade-offs.

Up to now, the Japanese government has been cautious about pushing ahead with the TPP without the U.S., but has changed its approach in light of the Trump administration's hostility to multilateral deals. 

Speaking at a news conference in Japan, Chief Cabinet Secretary Yoshihide Suga said the government "is not ruling out any possibilities," but Japan will continue to "persistently explain" the benefits of the TPP to the U.S., in the hope that it will change its position.

Trump fulfilled a campaign pledge by signing an executive order in January pulling the U.S. out of the TPP. Implementing the deal without the U.S. will require changes to the text. And although Japan and Australia have said they are willing to do so, Vietnam and other countries who were forced to make many concessions to U.S. in the original negotiations are thought to be pushing for changes to the content of the pact itself.

Last Updated ( Thursday, 20 April 2017 13:57 )

 

Despite intervention, Nigeria Currency loses more ground to the dollar

Despite intervention, Nigeria Currency loses more ground to the dollar

The Nigerian naira lost more ground to the dollar at the parallel market on Tuesday,  despite intervention of the Central Bank of Nigeria (CBN). Naira traded at 410 to the...

Last Updated ( Tuesday, 11 April 2017 22:20 )

Ghanaian president names new central bank governor

Ghanaian president names new central bank governor

President Nana Akufo-Addo of Ghana has named Ernest Addison, a senior monetary policy expert, as the governor of Central Bank of Ghana. Addison was appointed after the sud...

Last Updated ( Sunday, 02 April 2017 06:11 )

Nigerian court overturns seizure of oilfield from Shell and Eni

Nigerian court overturns seizure of oilfield from Shell and Eni

A Nigerian court on Friday overturned a request by Nigeria's financial crimes agency to seize an oilfield from Royal Dutch Shell and Eni.

In January, a court had ordered t...

TRUMP, DEFEATED AGAIN ON THE TRAVEL BAN, IS STILL TRAPPED IN HIS CAMPAIGN

TRUMP, DEFEATED AGAIN ON THE TRAVEL BAN, IS STILL TRAPPED IN HIS CAMPAIGN

By   Benjamin Wallace-Wells

President Trump’s first travel ban was worded vaguely and took effect suddenly, and so the legal responses to it—the public-interest attorneys hu...

  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  3 
  •  4 
  •  5 
  •  6 
  •  7 
  •  8 
  •  9 
  •  10 
  •  Next 
  •  End 
  • »
Page 1 of 79

African News Digest Newsletter

Welcome to AND
Name:
Email:
How many eyes has a typical person? (ex: 1)