Page 6 - SCBJ-201701
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South China Business Journal
CHINA BRIEFING DImopnliacladtiTornusmfporintthheeFWuthuirtee House:
of
TPP and Free Trade in ASEAN
By Asean Briefing
Photo from bing.com
US president-elect Donald Trump’s opposition to effect in the near future. Instead of being a step backwards, it is
the Trans-Pacific Partnership (TPP) is well-known and the more a lack of further progress as far as development of free trade
future of the trade deal is now on tenterhooks. For the supporters in the region is concerned.
of the TPP, Trump’s victory has meant that their worst fears are
now going to unfold. Opponents of the trade deal are rejoicing at Brunei, Malaysia, Singapore and Vietnam are the four ASEAN
their expectation that Trump will now move quickly to fulfill one member states who are parties to the TPP, and of them, only
of his most controversial campaign promises – to abandon the Singapore has a separate FTA with the US. While some of them
TPP. Any prospects of the US renegotiating the TPP are not only – especially Singapore and Vietnam- acknowledge that the TPP
bleak but also impractical – the trade deal was seven years in the is now in jeopardy, they have made it clear that they will move
making, meticulously negotiated and involved compromises from forward in negotiating their own FTAs with other countries in the
several countries on both sides of the Pacific. Asia-Pacific region.
Implications for ASEAN Among the ASEAN members, Vietnam was widely considered as
the country most likely to get an immediate economic boost from
So now if the US does ultimately withdraw from the TPP, what the TPP. According to Vietnam’s Minister of Trade and Industry
implications will this have for free trade in the ASEAN region? Tran Tuan Anh, the country will continue reforms to improve
Before analyzing this, it should be kept in mind that TPP’s its business and investment environment and negotiate other
potential failure is unlikely to have any significant immediate agreements whether US president-elect Donald Trump thwarts
economic impact on the region. It was not a trade deal in force, the TPP or not. Deputy Prime Minister and Foreign Minister
but only offered prospects of newer free trade rules coming into
4
CHINA BRIEFING DImopnliacladtiTornusmfporintthheeFWuthuirtee House:
of
TPP and Free Trade in ASEAN
By Asean Briefing
Photo from bing.com
US president-elect Donald Trump’s opposition to effect in the near future. Instead of being a step backwards, it is
the Trans-Pacific Partnership (TPP) is well-known and the more a lack of further progress as far as development of free trade
future of the trade deal is now on tenterhooks. For the supporters in the region is concerned.
of the TPP, Trump’s victory has meant that their worst fears are
now going to unfold. Opponents of the trade deal are rejoicing at Brunei, Malaysia, Singapore and Vietnam are the four ASEAN
their expectation that Trump will now move quickly to fulfill one member states who are parties to the TPP, and of them, only
of his most controversial campaign promises – to abandon the Singapore has a separate FTA with the US. While some of them
TPP. Any prospects of the US renegotiating the TPP are not only – especially Singapore and Vietnam- acknowledge that the TPP
bleak but also impractical – the trade deal was seven years in the is now in jeopardy, they have made it clear that they will move
making, meticulously negotiated and involved compromises from forward in negotiating their own FTAs with other countries in the
several countries on both sides of the Pacific. Asia-Pacific region.
Implications for ASEAN Among the ASEAN members, Vietnam was widely considered as
the country most likely to get an immediate economic boost from
So now if the US does ultimately withdraw from the TPP, what the TPP. According to Vietnam’s Minister of Trade and Industry
implications will this have for free trade in the ASEAN region? Tran Tuan Anh, the country will continue reforms to improve
Before analyzing this, it should be kept in mind that TPP’s its business and investment environment and negotiate other
potential failure is unlikely to have any significant immediate agreements whether US president-elect Donald Trump thwarts
economic impact on the region. It was not a trade deal in force, the TPP or not. Deputy Prime Minister and Foreign Minister
but only offered prospects of newer free trade rules coming into
4
