Trans-Pacific Partnership trade pact risks splitting Asean, Manila warns
Manila says Trans-Pacific Partnership may cause resentment unless it includes all bloc's members
A US-backed Pacific free-trade pact could cause resentment in Southeast Asia, leaving some nations in the region better positioned to access the American market than others, a top Philippine official said.
Finance Secretary Cesar Purisima proposed inviting all 10 members of the Association of Southeast Asian Nations to join the Trans-Pacific Partnership (TPP), even if most cannot now meet the conditions for joining.
He said on Thursday that would demonstrate a clear pathway for entering the pact, without lowering standards.
Asean is itself striving to reduce trade barriers among its members, but only four of them are in the TPP. They are Brunei, Malaysia, Singapore and Vietnam. Those outside the TPP are Cambodia, Indonesia, Laos, Myanmar, the Philippines and Thailand.
"If there's a lag between the joining of the others in a high-quality agreement such as TPP, there can be resentment, especially as we continue to integrate," Purisima told the Centre for Strategic and International Studies think tank.
He said countries like the Philippines would be at a major handicap for products where they compete for the US market with the four other countries.