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Category: Government and Politics / Foreign Affairs / World Politics / Trade / Business, Economics and Finance

TPP: Ciobo dismisses fears of trade deal roadblock

Friday, 15 Jul 2016 06:54:47 | Stephanie Anderson

Steven Ciobo says the TPP deal is "certainly not dead". (ABCTV)

Trade Minister Steven Ciobo has dismissed concerns the Trans-Pacific Partnership (TPP) could be blocked by the Australian Senate, amid opposition from a key US senator.

Orrin Hatch, the US Senate Finance Committee's chairman, is blocking support for the TPP, saying he will not budge until changes are made to trade rules governing a new class of drugs called biologics.

Speaking to the ABC, Senator Hatch accused Australia of wanting to steal the United States' patents, arguing that a proposed five-year patent deal should be extended to 12.

The US senator is one of the American pharmaceutical industry's most high profile advocates.

Mr Ciobo has since met with Senator Hatch, describing the meeting as "constructive".

He told the ABC the deal was "certainly not dead" amid an ongoing conversation.

"Clearly the clock is ticking," he said.

"I'm not going to pretend that it's not getting close to midnight with respect to the US Congress consideration of the TPP."

"Senator Hatch is arguably one of the most important players with respect to the passage of the TPP."

Mr Ciobo would not be drawn on whether Australia was open to renegotiating the time period in relation to patents, instead saying that he understood the concerns.

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The controversial Trans-Pacific Partnership deal covers 40 per cent of the global economy and involves 12 countries around the Pacific rim, including Australia and the United States.

Mr Ciobo also downplayed concerns over the deal from crossbench senators such as Nick Xenophon and Pauline Hanson.

Both the Nick Xenophon Team and One Nation have been critical of the TPP, with Senator Xenophon previously describing it as the "Trans Pacific Dud".

The two parties will join fellow trade-sceptical Greens senators and Tasmanian independent Jacqui Lambie on the crossbench, a bloc that could play an important role in the passage of legislation.

When asked if this meant the TPP could fail within Australia, Mr Ciobo said, "I certainly hope not".

He said he had worked closely with Senator Xenophon in the past and would continue to engage "in a very open manner".

"The fact is that trade deals are good for Australia," he said.

"I recognise some Australians harbour concerns. I recognise that there have been some members, or prospective candidates, who have talked down the benefits of engaging in trade."

AustraliaPlus


 

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