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Trans-Pacific Partnership Singapore talks end without appreciable gain

NEGOTIATORS in the 12-nation Trans-Pacific trade talks said they had yet to reach agreement on tariffs and other market access issues, but claimed they had made progress during four days of meetings in Singapore.

The ministers said the talks ended with no clear indication of a time frame to clinch the Trans-Pacific Partnership (TPP) agreements, Reuters reported.

"Market access is in some respects the heart and soul of any trade agreement, so until that's done, we don't have an agreement," said New Zealand Trade Minster Tim Groser.

The US initiative aimed at cutting tariffs and setting common standards on other trade issues across a dozen countries representing almost 40 per cent of the global economy.

Long-running differences on tariffs on imported goods, particularly between the United States over its protected automotive sector and Japan, which seeks to protect domestic food producers proved too difficult to overcome.

Two sets of meetings between the Japanese and American delegates during the Singapore talks produced no breakthrough. US Trade Representative Michael Froman said market access for agriculture in Japan remained a problem, but played down the idea that TPP talks might proceed without Japan, the second-biggest economy in the bloc.

Sticking points over intellectual property and the rules for state-owned enterprises and government procurement were also proving difficult.

"If you ask whether all outstanding issues have been resolved, it is also a common recognition that they still remain," said Japanese Economics Minister Akira Amari.

There had been expectations that the deal could be concluded in time for US President Barack Obama's visit to Asia in April. It is unclear, however, whether ministers will meet again before the trip.

The countries participating in the talks are the United States, Canada, Japan, Australia, New Zealand, Singapore, Malaysia, Brunei, Vietnam, Chile, Mexico and Peru.