11:04 GMT27 January 2020
Listen Live
    Business
    Get short URL
    0 010
    Subscribe

    Indonesia intends to join the Trans-Pacific Partnership (TPP) free trade pact, Indonesian President Joko Widodo said Monday.

    WASHINGTON (Sputnik) – The 12 Pacific Rim countries, led by the United States, reached an agreement earlier this month on the wording and subject matter of the TPP, expected to cover some 40 percent of the global economy.

    "Indonesia intends to join the TPP," Widodo told reporters after speaking with US President Barack Obama.

    Indonesia is the third-fastest-growing emerging economy in the region behind non-TPP members China and India.

    "Indonesia is an open economy. Having the largest population in Southeast Asia, we are the biggest economy in Southeast Asia," Widodo, who is on his first US visit since taking office in October 2014, stressed.

    The TPP agreement, when ratified, is expected to introduce deregulated and streamlined trade between the United States, Canada, Japan, Australia and Mexico. The trade accord’s other partners include Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.

    Opponents argue the TPP has been negotiated in unusual secrecy and could have negative implications for human rights, national sovereignty, employment and the environment. Proponents claim the deal will spur global economic growth and create jobs.

    Related:

    Latin American TPP States Interested in Eurasian Economic Union
    'Extremely Negative Factor': Moscow Concerned Over Secrecy of TPP Agreement
    Communist Party of China to Pursue Beijing’s Accession to TPP
    Public Scrutiny Could Force Canada’s Liberals to Challenge TPP Trade Deal
    Canada’s New Government to Support TPP Deal After Parliamentary Review
    Establishment of Trade Associations Should Be Response to TPP
    Obama, Trudeau Discuss TPP Implementation, Combating Terrorism
    Japan to Lift 95% of Import Duties After Controversial TPP Trade Pact
    TPP Free Trade Deal Represents 'Serious Risk' to World
    US, China & TPP: 'As Much About Power in Asia as It Is About Free Trade'
    Tags:
    Trans-Pacific Partnership (TTP), United States, Indonesia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik