Read The Times Australia

Daily Bulletin

Turnbull tells US legislators: look at 'big picture' benefits of Trans-Pacific Partnership

  • Written by: The Conversation Contributor
image

Malcolm Turnbull has directly lobbied US legislators to pass the Trans-Pacific Partnership (TPP) agreement, which he describes as “a very critical part of America’s continued presence in the Asia-Pacific”.

Turnbull stressed the TPP’s importance in his talks on Capitol Hill, especially with Senate Majority Leader Mitch McConnell, as well as in an address to the US Chamber of Commerce.

Emphasising the TPP was more than just a trade deal, Turnbull told his business audience: “It is a very important element in the maintenance of the United States as the credible, strong, consistent enduring guarantor of the rules-based international order. It sets a very high bar. It encourages countries to reform”.

US President Barack Obama is pressing hard for congressional passage, in the face of strong political resistance. If the 12-nation agreement, struck late last year, cannot be passed before the November presidential election, it is hoped it could get through before Obama leaves office next January.

Speaking ahead of his congressional meetings Turnbull said he would urge legislators “not to lose sight of the wood for the trees, not to get lost in this detail or that detail … because the big picture is the rules-based international order, which America has underwritten for generations, which has underwritten the prosperity and the economic growth from which we have all benefitted”.

The TPP’s passage was canvassed in Turnbull’s Oval Office meeting with Obama, in which the battle against Islamic State (IS) was the main focus. Turnbull briefed Obama on his visits to Iraq and Afghanistan. Improving the use of cyberspace to counter IS was discussed, a theme that Turnbull has emphasised in his two-day visit to Washington, as well as other challenges posed by the cyberworld.

Obama referred to last week’s terrorist attack in Jakarta, saying it was “a reminder that Southeast Asia has generally done a very effective job fighting against extremism, but it is an area that we have to pay attention to and watch”.

In his Chamber of Commerce speech Turnbull singled out Indonesia as an example of how the TPP could be used leverage reform.

He said President Joko Widodo – “a charismatic, reforming president” – was obviously seeking to deal with vested interests. “The TPP offers a powerful argument in his armoury to argue for reform because he can say … ‘Look the Vietnamese have entered into the TPP, they’re going to get all of these advantages, if we don’t get onboard we’ll be left behind.’”

Economic analysts who said the TPP would add only a very small percentage to a given country’s GDP often missed the things that were hard to measure, Turnbull said.

“What is significant is the stability, the prosperity, the growth … in our region, which is unprecedented in human history, could not have occurred without the strong position, the strong presence of the United States.”

He also dismissed fears about opening markets a little more as “an extraordinary counsel of despair”.

The US had created globalisation, and Americans should be confident that as markets were opened their business people, scientists and engineers would be able to compete with the best and outpace most of them.

“The reality is that the TPP offers opportunity to the United States. There is very little at risk from freedom for such a strong innovative economy as this.” And there was much to gain in the region because the more connected and transparent the economies became and the stronger the rule of law in each country, the greater the cost of anyone seeking to disrupt them, he said.

Turnbull has announced a strengthening of ties between Australia and the US on cyber security, with an annual Australia-US Cyber Security Dialogue. This dialogue, jointly convened by the Australian Strategic Policy Institute and the US Centre for Strategic and International Studies, will have representatives from business, academic and government sectors discussing common cyber threats, promoting cyber security innovation and shaping new business opportunities.

In a statement, Turnbull said: “We will continue to work closely together to ensure the internet remains open, free and secure by promoting peacetime ‘norms’ for cyberspace.

“But we also must be ready to respond to cyber incidents when and if they occur. This means we need to better understand how Australia and the US would co-operate in the event of a significant cyber incident affecting both nations. To achieve this, we agreed to improve our response efforts.”

The two countries will also enhance co-operation to deal with cybercrime.

Authors: The Conversation Contributor

Read more http://theconversation.com/turnbull-tells-us-legislators-look-at-big-picture-benefits-of-trans-pacific-partnership-53438

Business News

How Businesses Can Prepare for Unexpected Power Outages

Power failures can occur quickly. The supply may be interrupted by bad weather, issues with the electricity network, damaged equipment or local construction work. This can be just a hassle for a fam...

Daily Bulletin - avatar Daily Bulletin

How Chatswood Tutoring Can Fit Into a Student’s Weekly Routine

Create a Predictable Weekly Structure A consistent weekly routine can make study easier to manage when students are balancing several subjects. Chatswood tutoring can provide a fixed learning point a...

Daily Bulletin - avatar Daily Bulletin

The Rise of Digital Marketplaces in the Australian Trade Sector

For decades, the Australian trade and construction sector operated almost entirely on word-of-mouth recommendations and local community networks. Small business owners typically relied on local newspa...

Daily Bulletin - avatar Daily Bulletin

How Immigration Lawyers Can Help

Introduction Visa decisions can shape employment, family life, study plans, travel, and future residence. A small omission can lead to delay, added expense, or refusal. Immigration lawyers assess l...

Daily Bulletin - avatar Daily Bulletin

How Industrial Drying Equipment Supports Efficient Processing

Many industrial processes require moisture to be removed from compressed air, products or process materials before they move to the next stage. Excess moisture can affect equipment performance, produc...

Daily Bulletin - avatar Daily Bulletin

Practical Ways a Whiteboard Can Improve Workplace Communication

Effective communication helps teams stay organised, share ideas and keep track of important information. While digital tools are now common in many workplaces, a whiteboard continues to provide a simp...

Daily Bulletin - avatar Daily Bulletin

Designing Eco-Friendly Custom Water Bottles for Your Next Event

The Evolution of Sustainable Event Merchandise Event planning has undergone a massive transformation over the last decade. Gone are the days when organizers could hand out cheap, single use plastic...

Daily Bulletin - avatar Daily Bulletin

Why Choosing a Professional Florist Melbourne Makes Flower Delivery Impactful

Flowers have a great power to speak when humans cannot express their feelings with right words. Flowers are the best gifts when you are celebrating a birthday or welcoming a newborn child into your fa...

Daily Bulletin - avatar Daily Bulletin

The Business Case for Choosing Australian Fabricators Over Imported Alternatives

For a long time, you might have defaulted to overseas suppliers when sourcing fabricated metal components for a project. The unit price was lower on paper, and the maths seemed straightforward. That...

Daily Bulletin - avatar Daily Bulletin

The Daily Magazine

How to Add a Heart to a Photo in Seconds

Visual storytelling has rapidly evolved in the digital age, transforming how we share our daily expe...

Why Small-Denomination Physical Gold is Becoming the Ultimate Defensive Asset

In a landscape of lingering macroeconomic uncertainty and rising domestic living costs, everyday i...

Why Your Feet Spread During Running and What That Means for Shoe Fit

The trainers felt brilliant in the shop. You walked around, bounced on your toes, checked the mirror...

How to Vet and Hire the Right Property Expert in the Australian Market

Navigating the Australian real estate market has become a highly strategic exercise. Recent nation...

Moving From Australia to Wellington: The Practical Settling-In Checklist

Wellington has a lot going for it. It's compact, walkable and full of cafes, with a harbour that r...

How to Match Replacement Roof Tiles on an Older Home

Renovating or repairing an existing roof comes with quite a few headaches, and matching the old roof...

Sydney Academy Partnership Targets Talent Development for Travel and Hospitality

VFS Global Academy’s Australian expansion will focus on practical skills and career development thro...

How Strategic Corporate Gifting Boosts Client Retention and Team Morale

As the calendar pushes towards the end of the year, business leaders across Australia begin evalua...

The Importance of Reliable Plumbing Services During Home Renovations

A freshly renovated bathroom can make an ordinary Monday morning feel a little more inviting. The ne...