KUALA LUMPUR, July 3 (Bernama) — Negotiations on the Trans-Pacific Partnership (TPP) are targeted to conclude this year, said US ambassador Paul W. Jones.
The outgoing US ambassador, who is celebrating his last Fourth of July American Independence Day reception Wednesday night, said subsequent rounds on the TPP negotiations are expected after the 18th round of the TPP negotiations in Kota Kinabalu from July 15 to 25.
“Progress on the TPP negotiations will also be assessed during the Asia-Pacific Economic Cooperation (APEC) leaders meeting in October in Bali this year,” he said at a press conference in conjunction with the US Embassy’s Fourth of July reception.
On the impact of the TPP on the prices of drugs and medicines, he said there is a need to strike a balance between keeping prices affordable and giving incentives for investment in research and development (R&D).
“The US is a big supporter of generic drugs, they are a major part of our medicine market,” he said.
However, he emphasised that there is also a need for incentives for companies to do R&D on new drugs to address health issues.
The TPP is a trade agreement involving 11 countries including the US and Malaysia.
Working groups are established in various areas such as investment, intellectual property and market access.
Japan will make its entry as the 12th TPP member to participate in the upcoming TPP negotiations in Kota Kinabalu.
The outgoing US ambassador, who is celebrating his last Fourth of July American Independence Day reception Wednesday night, said subsequent rounds on the TPP negotiations are expected after the 18th round of the TPP negotiations in Kota Kinabalu from July 15 to 25.
“Progress on the TPP negotiations will also be assessed during the Asia-Pacific Economic Cooperation (APEC) leaders meeting in October in Bali this year,” he said at a press conference in conjunction with the US Embassy’s Fourth of July reception.
On the impact of the TPP on the prices of drugs and medicines, he said there is a need to strike a balance between keeping prices affordable and giving incentives for investment in research and development (R&D).
“The US is a big supporter of generic drugs, they are a major part of our medicine market,” he said.
However, he emphasised that there is also a need for incentives for companies to do R&D on new drugs to address health issues.
The TPP is a trade agreement involving 11 countries including the US and Malaysia.
Working groups are established in various areas such as investment, intellectual property and market access.
Japan will make its entry as the 12th TPP member to participate in the upcoming TPP negotiations in Kota Kinabalu.
No announcement for today.