Australian Trade and Investment Minister Andrew Robb confirmed Wednesday that substantial progress has been made in advancing Trans Pacific Partnership (TPP) Agreement negotiations, but improved market access remains fundamental to Australia's negotiating position.
Robb has just returned from a four-day TPP Ministerial Meeting in Singapore involving 12 participating countries. According to a latest statement from him on Wednesday, the negotiations remain a work in progress.
"I have been clear from the outset that Australia is very determined to see an ambitious market access outcome, in fact it remains fundamental to the successful completion of negotiations," he said.
According to Robb, Australia is seeking a comprehensive outcome that includes better market access for its agricultural commodities, commercially meaningful outcomes for Australian service providers and investors as well as improved rules regarding global value chains.
Robb also reaffirmed on Wednesday that a successful TPP outcome can deliver enormous benefits for Australia.
"TPP members represent 40 percent of global GDP (gross domestic product) and Australian exports to member countries are annually worth around 100 billion AU dollars (almost 91.19 billion US dollars) -- 33 percent of our global export trade," Robb said.