- Title: Facing wave of isolationism, Abe and PPK pledge fidelity to TPP, global economy
- Date: 19th November 2016
- Summary: LIMA, PERU (NOVEMBER 18, 2016) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** JAPANESE PRIME MINISTER, SHINZO ABE, PERUVIAN PRESIDENT, PEDRO PABLO KUCZYNSKI (PPK), ENTER SALON TO SIGN BILATERAL ACCORDS VARIOUS OF ABE AND PPK TAKING SEATS FOR SIGNING JAPANESE MINISTER OF COMMERCE AND INDUSTRY, HIROSHIGE SEKO, NEARS PERUVIAN MINISTER OF ENERGY, GONZALO TAMAYO, TO SIGN AGREEMENTS VARIOUS OF SIGNING OF AGREEMENTS, SHAKING OF HANDS AUDIENCE APPLAUDING VARIOUS OF PERUVIAN MINISTER OF TRANSPORT AND COMMUNICATIONS, MARTIN VIZCARRA, SIGNING AGREEMENTS WITH JAPANESE MINISTER FOR INTERNAL AFFAIRS AND COMMUNICATIONS, SHIGEKI SUZUKI, SHAKE HANDS ABE APPROACHES TO MAKE STATEMENT (SOUNDBITE) (Japanese) JAPANESE PRIME MINISTER, SHINZO ABE, SAYING: "The sectors of infrastructure and minerals which President Kuczynski himself is emphasising, are attractive destinations for investment for Japanese firms. In my meeting with President Kuczynski, we agreed again to make a major effort to work in tandem for the soon passage of TPP. At the same time, we agreed to start delegations for the signing of a mechanism to avoid the double taxation with the goal of promoting a healthy economic exchange between Japan and Peru." KUCZYNSKI SPEAKING (SOUNDBITE) (Spanish) PERUVIAN PRESIDENT, PEDRO PABLO KUCZYNSKI, SAYING: "At this time, the world economy is hitting the brakes. But I think it's very important to emphasise international commerce, things represented in the TPP, and the plan for commercial cooperation in the Asia-Pacific region, and we support that." VARIOUS OF PPK AND ABE SHAKING HANDS PPK AND ABE LEAVING CEREMONY
- Embargoed: 4th December 2016 02:36
- Keywords: Shinzo Abe Pedro Pablo Kuczynski Lima APEC
- Location: LIMA, PERU
- City: LIMA, PERU
- Country: Peru
- Topics: Diplomacy/Foreign Policy,Government/Politics
- Reuters ID: LVA00158Z4OJR
- Aspect Ratio: 16:9
- Story Text: As leaders of Pacific Rim nations scrambled to find new free-trade options on Friday (November 18) at a regional summit in Lima, the leaders of Japan and Peru pledged to affirm commitment to the norms of the global economy at a time they are under unprecedented attacks.
The looming Donald Trump presidency in the United States sounded a possible death knell for the Trans-Pacific Partnership (TPP), but the two are still championing its passage.
Peruvian President Pedro Pablo Kuczynski met with Japanese Prime Minister Shinzo Abe ahead of the 21-member Asia Pacific Economic Cooperation (APEC) summit in Lima over the weekend.
After lower-level meetings, U.S. President Barack Obama, Chinese President Xi Jinping, and Russian President Vladimir Putin were due to arrive at the Asia-Pacific Economic Cooperation summit that brings together leaders whose economies represent 57 percent of global gross domestic product.
While campaigning for the presidential election which he won, Trump labelled the TPP a job-killing "disaster" and called for curbs on immigration and steeper tariffs on products from China and Mexico.
Though Obama championed the TPP as a way to counter China's rise, his administration has now stopped trying to win congressional approval for the deal that was signed by 12 economies in the Americas and Asia-Pacific, but excluded China. Without U.S. approval the agreement as currently negotiated cannot come to fruition.
China's Xi is selling an alternate vision for regional trade by promoting the Beijing-backed Regional Comprehensive Economic Partnership (RCEP), which as it stands excludes the Americas.
Peru and Japan, on the other hand, signed a joint statement pledging to work harder to put into force the 12-nation accord.
Speaking in Lima, Abe championed cooperating with Peru for the passage of a deal.
"The sectors of infrastructure and minerals which President Kuczynski himself is emphasising, are attractive destinations for investment for Japanese firms. In my meeting with President Kuczynski, we agreed again to make a major effort to work in tandem for the soon passage of TPP. At the same time, we agreed to start delegations for the signing of a mechanism to avoid the double taxation with the goal of promoting a healthy economic exchange between Japan and Peru," he said.
For his part, Kuczynski spoke more broadly in favour of participating in a global economy.
"At this time, the world economy is hitting the brakes. But I think it's very important to emphasise international commerce, things represented in the TPP, and the plan for commercial cooperation in the Asia-Pacific region, and we support that," he said.
Mexico, Japan, Australia, Malaysia, New Zealand and Singapore, aim to continue with TPP with or without the United States, Mexico's Economy Minister Ildefonso Guajardo said.
The 21 members of the APEC have finished a study for a regional free-trade area but will not discuss it until the next annual summit in Vietnam, Peruvian Trade Minister Eduardo Ferreyros said. Both the TPP and RCEP were seen as pathways toward an APEC-wide agreement. - Copyright Holder: REUTERS
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