- Title: Peru's PPK closes out APEC with boost for free trade, economic liberalisations
- Date: 21st November 2016
- Summary: LIMA, PERU (NOVEMBER 20, 2016) (REUTERS) VARIOUS EXTERIORS OF PERUVIAN MINISTRY OF CULTURE, HOME OF 2016 ASIA PACIFIC ECONOMIC COOPERATION (APEC) SUMMIT WIDE OF PERUVIAN PRESIDENT PEDRO PABLO KUCZYNSKI HOLDING A PRESS CONFERENCE (SOUNDBITE) (Spanish) PERUVIAN PRESIDENT, PEDRO PABLO KUCZYNSKI, SAYING: "Now with the uncertainty in the United States and some other places over the TPP, some have suggested that we can look past the TPP as a path towards FTAAP (Free Trade Area of the Asia Pacific). This is nothing more than a suggestion. It has to be considered in a commission among the 21 states with the APEC secretariat (to see) if there is or there isn't compatibility on this matter. I believe that our objective here in APEC is FTAAP, not TPP." VARIOUS OF THE AUDITORIUM (SOUNDBITE) (Spanish) PERUVIAN PRESIDENT, PEDRO PABLO KUCZYNSKI, SAYING: "The difficulty will be to convince countries where there's been a big industry that maybe contains depressed areas. An observation I made during the leaders' conference we held is that if we look at the countries that export minerals or agricultural products, for example, none are protectionist. All are in favour of international commerce Australia, Canada, Peru or Chile. We are all internationalist because we have to sell what we produce." VARIOUS OF THE AUDITORIUM
- Embargoed: 6th December 2016 01:26
- Keywords: TPP Asia Pacific Economic Cooperation Pedro Pablo Kuczynski APEC FTAAP
- Location: LIMA, PERU
- City: LIMA, PERU
- Country: Peru
- Topics: Diplomacy/Foreign Policy,Government/Politics
- Reuters ID: LVA00159DY8G7
- Aspect Ratio: 16:9
- Story Text:Peruvian President, Pedro Pablo Kuczynski (PPK), closed out Sunday (November 20) the Asia Pacific Economic Cooperation (APEC) summit he was hosting by promoting a free trade philosophy.
Pacific rim leaders said on Sunday that they were committed to fighting "all forms of protectionism," and encouraged signatories of the TPP trade pact to continue supporting it despite fears it may not have a future in its current form.
APEC talks in Lima have been dominated by doubts over the future of free trade and in particular the Trans-Pacific Partnership (TPP) trade pact following the election of Donald Trump as U.S. president.
Trump strongly criticized the TPP - which as it stands includes the United States but not China - during an election campaign notable for his strong criticism of U.S. free trade deals.
U.S. President Barack Obama, speaking at a news conference, said he was already hearing calls for a less ambitious trade agreement that would exclude U.S. workers and businesses.
PPK sounded a note of support for such a strategy.
"Now with the uncertainty in the United States and some other places over the TPP, some have suggested that we can look past the TPP as a path towards FTAAP (Free Trade Area of the Asia Pacific). This is nothing more than a suggestion. It has to be considered in a commission among the 21 states with the APEC secretariat (to see) if there is or there isn't compatibility on this matter. I believe that our objective here in APEC is FTAAP, not TPP," he said.
Not moving forward with TPP would undermine the U.S. position across the Asia-Pacific region, Obama said at the end of the last stop of his final scheduled trip abroad as president.
Some leaders have suggested that the 12-nation TPP free trade pact could continue without the United States, while others have said that would be impossible without a complete renegotiation.
In parallel, China has been selling an alternate vision for regional trade by promoting the Regional Comprehensive Economic Partnership (RCEP), which does not include the Americas.
Kuczynski said that economic hardship had fuelled support for Trump in the United States and the Brexit victory in the United Kingdom.
"The difficulty will be to convince countries where there's been a big industry that maybe contains depressed areas. An observation I made during the leaders' conference we held is that if we look at the countries that export minerals or agricultural products, for example, none are protectionist. All are in favour of international commerce Australia, Canada, Peru or Chile. We are all internationalist because we have to sell what we produce," he said.
The final declaration by the APEC leaders said: "We encourage that all regional undertakings, including TPP and RCEP, remain open, transparent and inclusive and draw on each other." Both deals could be potential pathways to a wider regional trade agreement, known as the FTAAP or Free Trade Area of the Asia Pacific, it said.
The final declaration acknowledged that economic growth had become uneven in recent years and inequality had risen, factors seen as key in a shift to isolationism in Western economies. - Copyright Holder: REUTERS
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