Emerging Governance

TPP, Other Megaregionals and Beyond

TDS
17 December
15:15 - 16:45
Taifa
Open sessions

Organisers

TDS LIVE | TPP, Other Megaregionals and Beyond

Session objectives 

The conclusion of Trans Pacific partnership (TPP) is a turning point in the history of trade regulations. TPP's scope, trade coverage and likely impact are unprecedented, with a large number of subjects and WTO+ disciplines, market opening initiatives in areas  hitherto considered impossible to address, disciplines on subsidies within plurilaterals, fisheries, state enterprise, labour standards and environmental standards, regulatory coherence, and several areas considered important for global value chain transactions. With its significant overage of global GDP and trade, TPP's disciplines have built a new base for future agreements at a time when a number of mega-regional negotiations are underway. The forthcoming Free Trade Area of Asia-Pacific (FTAAP) at APEC may take these initiatives even further. Nonetheless, while various mega-regionals would  cover over two-thirds of world trade and investment, the number of countries participating in them would be only about one-third of WTO's membership. Fragmentation  would be compounded because  a large number of lead firms in value chains are from the areas covered by the mega-regionals, often imposing conditions for linking up with the value chains; conditions which will reflect regulatory conditions arising from mega-regionals.    

This session will consider various relevant issues, such as the implications of TPP for:

(1) future mega-regionals, (2) global trade, (3) whether and how mega-regionals need to prepare for improving participation of non-members, (4) what changes are needed in WTO itself to cope with future developments, (5) which areas could be more easily multilateralized, and (5) whether business imperatives themselves suggest solutions?

Speakers

  • Director General of the Directorate General for International Economic Relations & Head of Trade Relations, Chile
  • Executive Director of the Centre for Trade and Economic Integration, The Graduate Institute of International and Development Studies
  • Deputy Minister of Trade and Industry, Vietnam
  • Visiting Scholar and Senior Fellow, Paul H. Nitze School of Advanced International Studies and Center for Transatlantic Relations
  • Minister of Foreign Trade and Tourism, Ministry of Foreign Trade and Tourism of Peru

Moderator