Secretary of State attempts to sell TTP to Pacific Rim nations

Qatari Foreign Minister Khaled al-Attiyah on Monday backed the deal on Iran’s nuclear program as the best available option, after talks in Doha with US Secretary of State John Kerry.

“Commitment to innovation and entrepreneurship” is one comparative advantage that both Singapore and the US enjoy, its Secretary of State John Kerry said yesterday.

“We’re nearing the completion of a historic Trans-Pacific Partnership agreement on trade…investing at unprecedented levels and promoting high standards when it comes to business practices”, said Mr Kerry.

Mr Shanmugam and Mr Kerry also emphasised the importance of all parties adhering to global law to manage the South China Sea disputes and maintain regional stability, MFA added.

Australian Trade Minister Andrew Robb had earlier said the Trans Pacific Partnership (TPP) was 98 per cent complete.

On Friday, Pacific Rim trade ministers did not clinch a deal on the TPP – the important thing financial arm of President Barack Obama’s rebalance to Asia within the face of China’s rising affect within the area.

Most of the potential U.S. trade partners, meanwhile, oppose American protections of pharmaceutical companies’ intellectual property, but the Times reports that compromising on that issue could scuttle the pact among Republicans in Congress.

But critics have complained that the deal is being negotiated in secret and that it favors multinational corporations over workers and consumers.

The settlement was proposed by Chile, New Zealand and Singapore in 2002, however Washington has taken the lead in selling it since becoming a member of the talks in 2008.

The TPP countries – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the US – have faced criticism for carrying out their negotiations in what opponents have charged is intense secrecy.

China, the world’s second largest economy after the U.S., is not part of the talks. However, the move has so far failed produce an agreement in the negotiations between the 12 nations.

From Singapore, Kerry travels to Kuala Lumpur, Malaysia, later Tuesday to participate in the Association of Southeast Asian Nations’ annual security forum at which China’s growing assertiveness in the South China Sea will be a major focus, despite Chinese objections.