Multilateral trade deal Trans Pacific Partnership inches closer with Sydney meeting

Federal Trade Minister Andrew Robb is hosting talks with 11 counterparts in Sydney, as a multilateral trade deal moves closer to reality.

"We have got a wonderful opportunity to engage with 12 major economies, a third of world trade, in a more seamless way," Mr Robb told AM.

Once signed, the Trans Pacific Partnership (TPP) agreement would cover 40 per cent of the global economy, and include countries like the United States, Canada, Japan, Malaysia, Peru, Chile and Australia.

Mr Robb said he hopes the basic elements of the agreement can be finalised during the three days of talks in Sydney.

"Now, this weekend three days of more consultations, hopefully will move us to a point where this thing can be completed sometime next year for the benefit of the region."

He said the agreement will set understandings on things like mutual recognition of standards or qualifications.

"All of these things which at the moment are really trade barriers. They can make it possible for this agreement to have a more seamless level of business going on, with less regulation, less protection, mutual recognition of standards, reducing approval times," said Mr Robb.

He said all of these things will reduce costs and make it easier to engage in things other than goods.

Mr Robb said the Federal Government is trying to achieve a deal which would increase access for Australian agricultural products to markets in the 11 other countries. But it's not just about agriculture.

"It's about so much else. In particular, 80 per cent services make up our GDP. And this focuses heavily on a 21st century agreement which opens up the opportunity for us to engage with those services across the region in a most seamless way," he said.

Australia has separate free trade agreements with all but three of the TPP negotiating countries, but the National Farmers Federation (NFF) said the proposed deal would build on those agreements.

"Now this is a new form of agreement, when you've got 12 countries all trying to negotiate it brings a lot of baggage with it, and a lot of difficulty, but also the opportunities are similarly large," the NFF's general manager of policy, Tony Mahar, told AM.

"In a trade agreement as the name suggests there's always trade-offs, it is rare you get everything you want," he said.

"The thing is you've actually got to be involved in these negotiations and make sure you can get the opportunities, the competitive advantages that we have in Australia, make the most of those.

"But there are a whole lot of other issues that get brought up in trade agreements that we have faith in the Government that they would do what is in the interests of the Australian economy."

Protesters urge Government to stop negotiations

About 100 protesters demonstrated outside the Sydney meeting, calling for the Federal Government to abandon the negotiations.

They said the agreement would make prescription medicine more expensive and reduce freedom on the internet.

Dr Patricia Ranald from the Australian Fair Trade and Investment Network said the agreement could allow companies to sue foreign governments if local laws infringe on their copyrights.

"US companies will have open slather to sue our government over health and environmental laws," she said.

Mr Robb said the deal would not push up the cost of medicines.

"We're not engaging in an exercise to increase the cost, this is just unfounded scaremongering," he said.

"Those that are opposed to this scheme, for all sorts of reasons, are peddling a lot of misinformation.

"They're saying pharmacy costs will go up. This is not the intention or the outcome that will occur with this particular 21st Century agreement."

Greens say talks are too secretive

Consumer groups and the Greens say the negotiating process has been too secretive.

"Trade ain't what it used to be," Greens senator Peter Whish-Wilson said.

"This is not about just putting iron ore on boats or selling more beef to other countries.

"Out of the 29 chapters in the TPP, 23 of the 29 chapters relate to changes in laws and regulations across the member countries."

Senator Whish-Wilson said the proposed agreement goes beyond what is traditionally thought of as trade.

"It's my view that this government is very focused on getting agricultural access gains in trade deals, but is prepared to sacrifice other sacred cows, for example like IP, patent links, data exclusivity," he said.

Government officials said intellectual property or IP issues have long been part of trade agreements, and Australia is seeking commitments under the TPP, which are consistent to the current IP (intellectual property) regime.

Consumer group Choice is also concerned about stricter copyright infringement and higher medicine costs through longer patents and is calling for the Government to release the details of the negotiations.

"Australia is a relatively open country with few barriers to trade, so with that in mind, you have to ask, what is being traded away for this agreement?" Choice campaigns manager Erin Turner said.

She is worried the TPP could include a provision to make it easier for big corporations to take legal action against governments, in what is known as investor-state dispute settlement.

"And that can really hamper a government's ability to enact laws in the interests of citizens, but not in the interests of big business," Ms Turner said.

"With all of these things likely on the table, it's really important that we have a chance to objectively assess the impact on Australian consumers before Australia signs up."

The Government says the release of the TPP's details and text is a matter for all negotiating countries.