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Conclusion of TPP on the Horizon
Trans Pacific Partnership
Conclusion of TPP on the Horizon
  • By matthew
  • October 24, 2014, 08:12
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The Trans Pacific Partnership now includes South Korea.
The Trans Pacific Partnership now includes South Korea.

 

U.S. Secretary of Commerce Penny Pritzker said on Oct. 23 that the conclusion of the Trans-Pacific Partnership (TPP) is around the corner. She said so at a luncheon meeting hosted by the American Chamber of Commerce in Korea and the Korea International Trade Association at the JW Marriott Hotel located in Dongdaemun, Seoul.

At present, the U.S. and Japanese governments are in TPP negotiations, but they are failing to make significant progress right now. Under the circumstances, some experts have pointed out that an agreement among the 12 participating countries would be unlikely within this year.

“Important talks such as those for the TPP tend to face an obstacle right before settlement,” she remarked, adding, “It seems that Japan is thinking it can properly handle the talks with other countries once it wraps up those with the United States.”

She stressed that the U.S. welcomes Korea’s interest in the TPP as an open platform, and the U.S. government has done a lot so that Korea can better grasp the state of progress of the TPP negotiations.

“President Park Geun-hye said that she would repeat the Miracle of the Han River by means of the Creative Economy and the U.S. would like to share the moment,” the secretary continued.