LEADERS MAKE STATEMENT ON TRANS-PACIFIC PARTNERSHIP (TPP)

FROM:  THE WHITE HOUSE 
November 10, 2014
Trans-Pacific Partnership Leaders’ Statement
November 10, 2014

We, the Leaders of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, welcome the significant progress in recent months, as reported to us by our Ministers, that sets the stage to bring these landmark Trans-Pacific Partnership (TPP) negotiations to conclusion. We are encouraged that Ministers and negotiators have narrowed the remaining gaps on the legal text of the agreement and that they are intensively engaging to complete ambitious and balanced packages to open our markets to one another, in accordance with the instructions we gave them in Bali a year ago. With the end coming into focus, we have instructed our Ministers and negotiators to make concluding this agreement a top priority so that our businesses, workers, farmers, and consumers can start to reap the real and substantial benefits of the TPP agreement as soon as possible.

As we mobilize our teams to conclude the negotiations, we remain committed to ensuring that the final agreement reflects our common vision of an ambitious, comprehensive, high-standard, and balanced agreement that enhances the competitiveness of our economies, promotes innovation and entrepreneurship, spurs economic growth and prosperity, and supports job creation in our countries. We are dedicated to ensuring that the benefits of the agreement serve to promote development that is sustainable, broad based and inclusive, and that the agreement takes into account the diversity of our levels of development.  The gains that TPP will bring to each of our countries can expand even further should the open approach we are developing extend more broadly throughout the region.  We remain committed to a TPP structure that can include other regional partners that are prepared to adopt its high standards.

Our fundamental direction to our Ministers throughout this process has been to negotiate an outcome that will generate the greatest possible benefit for each of our countries.  In order to achieve that, our governments have worked to reflect the input we each have received from our stakeholders in the negotiation.  Continued engagement will be critical as our Ministers work to resolve the remaining issues in the negotiation.