The 12-country pact, the Trans-Pacific Partnership, the biggest ever free trade deal covering 40 per cent of the world economy, at the Hawaiian island of Maui, concluded without reaching any agreement. After one week of what was termed as ‘productive meetings’ by US Trade Representative, Michael Froman, negotiators walked away without settling the deal.

The Trade Promotion Authority (TPA), was passed by the Congress recently, which allows President Obama to introduce trade deals to Congress for an uncomplicated up or down vote without amendments. The measure though, is now in place, failed to push the deal forward to a feasible conclusion. As per reports, dairy has been a sticky wicket, as some countries negotiating, for e.g., New Zealand, are reluctant to back a deal that doesn’t open dairy markets further.

The US seeks 12 years of patent protection time for pharmaceutical drugs, while Australia has five at present and Chile, zero. Countries such as Malaysia and Vietnam have concerns about public health if access to cheaper generic versions of drugs is too many years out. Thus, the length of time to extend patent protection for pharmaceutical drugs was also under dispute.

Ambassador Froman is confident that TPP would pan out and will support employment and economic growth. He added that they had made quite a progress and would continue to work on resolving few issues and reaching a viable conclusion of the Trans-Pacific Partnership negotiations.