TPP trade talks move forward

CNC
Added On November 13, 2017

Members of the Trans-Pacific Partnership have agreed on a new framework to revive the proposed trade deal, following the U.S. withdrawal earlier this year.

 
Meeting on the sidelines of the APEC summit in Vietnam, the remaining 11 nations released a joint statement saying they were committed to free and open trade.
 
Canada had been accused of stalling.
 
The country's delegation said labour and environmental rights would be crucial pillars of a new agreement, but added that a lot of work still needs to be done.
 
The 11 trade ministers have agreed on core elements of the pact, which is from now on called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). 
 
This was remarked in a joint statement issued on November 11.
 
The ministers agreed not to make amendments to the original text but freeze the implementation of some clauses to ensure balance and the quality of the document in the new context. 
 
They said the CPTPP is a comprehensive and high-standard agreement on the basis of balancing interests of its member countries, with regard to their development levels.