Top officials from 12 Asia-Pacific nations formally kicked off a four-day bid to hammer out a massive but so far elusive free-trade agreement that has been in the works for six years.
Speaking at the opening plenary of the Trans-Pacific Partnership (TPP) talks in Hawaii, US Trade Representative Michael Froman told his counterparts they need to resolve the “tough political issues” standing in the way of a deal.
“Each of us brings our own priorities and sensitivities to the table, and our goal here over the next couple of days is to find a path forward to resolve those issues,” Froman said.
Before the ceremonial opening on the island of Maui, staff from all 12 countries had gathered to sound out the complicated trade-offs that a final agreement would require, an effort that trade ministers joined on Tuesday.
The negotiation could yet collapse over issues ranging from drug patents to dairy exports, and test the ability of the US and Japan—by far the two largest economies in the TPP—to jointly drive a resolution. Froman and Economy Minister Akira Amari huddled for almost two hours before the plenary got under way.
“There are still tough political issues that remain to be resolved,” Froman said. “And as anyone who’s ever been involved in a trade negotiation knows, those final decisions are always the most difficult.”
Positive words notwithstanding, regarding the talks as the “final” round is risky given the unsettled issues, said Timothy Brightbill, a partner at law firm Wiley Rein Llp. in Washington.
“Too early in the week for a wager,” Brightbill, an adviser to Froman’s office on the deal, said in an e-mail. “Right now, I’d have to say 50-50.”