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Pacific nations scramble to save trade pact after Trump exit

10 November 2017

The TPP is expected to be a central theme at this week's Asia-Pacific Economic Co-operation summit in the Vietnamese city of Danang.

Ministers of the 11 signatories remaining in the TPP reached an agreement in principle Thursday to go ahead with the implementation of the free trade deal without the US.

Instead, he has said he prefers bilateral agreements with individual nations, thus raising the stakes of US -driven bilats at APEC and ASEAN in coming days.

Both countries have French heritages and both are members of La Francophonie, he said in an interview. Mexican Economy Minister Ildefonso Guajardo also said that the countries had reached a deal, though he gave no other details.

Regarding Canada's participation in the Trans-Pacific Partnership (TPP) agreement, PM Trudeau affirmed that Canada attaches importance to worldwide trade collaboration as it helps generate jobs, boost economic development and improve people's living conditions.

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The spat highlighted the continuing challenge to reviving a pact whose survival was thrown into doubt when President Donald Trump ditched it, in one of his first acts in office, in favour of bilateral deal-making by the United States.

PM Phuc spoke highly of the vast contributions to the two countries' diplomatic ties made by late Prime Minister Pierre Trudeau, Justin Trudeau's father, affirming that Vietnam treasures and wants to further its relations with Canada. Asia's two major regional meetings are unfolding in coming days, filling the news cycles with imagery of groups of political luminaries greeting and meeting, its usually in the "bilats" - the "bilateral meetings " between ministers or leaders that take place on the sidelines of meetings like APEC and ASEAN, both of which are happening late this week and early next.

Ardern has a one-on-one meeting scheduled with Canada's Prime Minister Justin Trudeau at the East Asia Summit in Manila, in the Philippines, starting on Sunday, and would take that option up.

The specific contents of the agreement will be announced after the 11 countries' leaders confirm it when they gather for the APEC forum on Friday, he added.

The author also narrated opinion of Dan Ciuriak, a former deputy chief economist for what is now known as Global Affairs Canada, as he believes an updated TPP pact is closer to fruition than Canada's potential deals with ASEAN or China.

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"The meeting did not happen, work remains to be done and that's what's happening now", a Canadian official said.

"I think we just have to have irons in many fires".

Eric Miller, a Washington trade consultant, said Canada address these concerns by agreeing to sign on to a mechanism to review the TPP.

Canada has hosted talks to save the TPP, and Champagne said he wasn't proposing a full-scale renegotiation.

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Pacific nations scramble to save trade pact after Trump exit