Bloomberg News

Negotiations on Pacific Trade Deal to Resume in July

May 16, 2012

Negotiations on a Pacific-region trade agreement will resume in San Diego July 2-10 after talks this week made progress on reining in enterprises backed by foreign governments, the top U.S. negotiator said.

“We plan to continue moving full steam ahead and hope to use that round to make a major step forward” in completing the deal, known as the Trans-Pacific Partnership, chief U.S. negotiator Barbara Weisel said on a media conference call today.

The nine nations seeking a deal “made better-than-expected progress” in talks near Dallas that concluded today, she said. Negotiators will discuss whether other nations should join the talks while at a regional trade ministers meeting next month in Kazan, Russia, Weisel said.

The countries working toward an agreement are Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, the U.S. and Vietnam. Each of those nations also are in discussions with governments in Japan, Canada and Mexico, which have expressed interest in joining, though a final decision hasn’t been made.

Negotiators in Dallas reached an agreement to boost trade for small- and medium-size businesses, and they had “valuable exchanges” on a U.S. proposal to ensure that state-owned enterprises compete fairly with private companies, Weisel said.

To contact the reporter on this story: Brian Wingfield in Washington at bwingfield3@bloomberg.net

To contact the editor responsible for this story: Jon Morgan at jmorgan97@bloomberg.net


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