Menu
News

Australia signs Trans-Pacific Partnership with 11 countries

US President Barack Obama has said the TPP would 'leave the playing field' for farmers and manufacturers.
US President Barack Obama has said the TPP would 'leave the playing field' for farmers and manufacturers.

PACIFIC nation ministers and negotiators have locked in a major Pacific trade deal after days of marathon talks in the US city of Atlanta.

The 12-country Trans-Pacific Partnership covers 40 per cent of the global economy and could reshape industries and influence everything from the price of cheese to the cost of cancer treatments.

A ministerial press conference to announce a deal was originally scheduled for Monday morning, Australian time, as reports emerged of a deal between Australia and the United States on intellectual property rules for new-generation medicines, but was subsequently delayed.

Read more about the Trans-Pacific Partnership here

Japan's prime minister said late on Monday evening a dozen nations had reached "broad agreement" on the TPP, which aims to service the world's largest free-trade zone.

"It is a major outcome not just for Japan but also for the future of the Asia-Pacific," Shinzo Abe told reporters.

More on ABC News

Prime Minister Malcolm Turnbull attempted to head off the controversey that surrounds the partnership with a statement this morning.

He said: "Importantly, the TPP will not require any changes to Australia's intellectual property laws or policies, whether in copyright, pharmaceutical patents or enforcement". 

"Australia's five years of data protection for biological medicines will remain unchanged.

"The TPP will not increase the price of medicines in Australia."

Topics:  editors picks politics trans-pacific partnership



Missing swimmer on north coast, search underway

HAZARDOUS SURF: Surf lifesavers are pleading with the public to stay out of the water this weekend after one of the biggest rescue days occurred on Saturday and swimmer is still missing on the north coast.

Hazardous surf warning and one swimmer missing

Ute and truck smash on highway

CRASH RESCUE: At 2am on Sunday the Westpac Life Saver Rescue Helicopter was called out to a crash involving a ute colliding with a truck on the Pacific motorway near Brunswick Heads.

Pacific Highway blocked after ute and truck smash

Ferry return to service delayed

No Caption

Service will not resume as expected

Local Partners