WASHINGTON: Pacific Rim officials meet in Hawaii this week for talks that could make or break an ambitious trade deal which aims to boost growth and set common standards across a dozen economies ranging from the United States to Brunei.
Trade ministers go into the talks, which run July 28-31 on the island of Maui, with high hopes of an agreement to conclude the Trans-Pacific Partnership (TPP), the most sweeping trade deal in a generation and a legacy-defining achievement for U.S. President Barack Obama.
But the toughest issues have been left until last, including monopoly periods for new life-saving medicines and preferential treatment for state-owned companies as well as more traditional trade issues such as opening protected markets to competition.
