An official update is rescheduled multiple times then postponed indefinitely.
NZ International Business Forum executive director Stephen Jacobi talks about the TPP hold up on NBR Radio and on demand on MyNBR Radio.
See also: Tight TPP talks carry on in Atlanta
Trade officials gathered in Atlanta, Georgia have indefinitely delayed a press conference to announce the status of the Trans Pacific Partnership.
The briefing was originally scheduled for 9am NZT was pushed back to 11am then 3pm before being pushed back indefinitely as last-minute negotiations continue.
Ministers from the 12 TPP member countries have been locked in a five-day meeting to try to complete the deal. While sources close to the talks say most of the agreement details are already decided, the more difficult aspects such as automobile, agriculture and market access are still to close.
News over the weekend suggests the ministers managed to find a compromise on automobile access issues, while Australia and the US compromised on medicine. But other reports suggest New Zealand’s dairy access may not be as good as initially thought. The market access status for sugar, textiles and other aspects is also unknown.
NZ International Business Forum executive director Stephen Jacobi says the announcement could herald the completion of the deal, although “no one really knows.”
“I wonder if the final outcome might be, ‘we’ve got a substantive conclusion but we still have to work on a few details.’
“If that’s the case, many people will say the ministers have failed again and the deal is on the rocks. The reality is, the ministers will have another chance at Apec [in November] if it doesn’t pass this week,” says Mr Jacobi.
He says worry that New Zealand may emerge poorly from the deal with market access for dairy is largely speculation but it is probably a realistic assessment.
“The ambition of the deal in dairy but in other areas as well is not going to be what everyone had hoped. But then in some other areas, including ones of great import to New Zealand such as beef, the outcome is going to be very good indeed.”
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