PM Lee: Time running out for TPP to be ratified
He hopes Obama can push pact through, but is concerned with anti-trade rhetoric in US presidential campaign
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PRIME Minister Lee Hsien Loong remains hopeful that US President Barack Obama can push through the Trans-Pacific Partnership (TPP) trade pact and get it implemented before he leaves the White House next January.
This mega free trade pact involves 12 Pacific Rim nations, including Singapore, and was signed in Auckland earlier this month after five years of negotiations. The deal now needs to be ratified by each country, a difficult process that could take up to two years to complete.
"We hope very much that President Obama will be able to clear this and not leave it as unfinished business for his successor," said Mr Lee in California on Tuesday (Wednesday morning, Singapore time).
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