MARIUS BENSON: Penny Wong, the Trade Minister Andrew Robb says this is a transformational deal, the text is not out yet, but do you have a clear idea of how good or otherwise it is?
SENATOR PENNY WONG, LEADER OF THE OPPOSITION IN THE SENATE: We certainly believe the Trans-Pacific Partnership has significant potential benefits for Australia. That would include market access for goods and services in countries which account for some 40 per cent of global GDP. It could also be a stepping stone to closer economic engagement across the Asia-Pacific region.
But we obviously laid out some benchmarks in relation to this agreement, we laid out red lines, those include that the agreement doesnt increase the price of pharmaceuticals here in Australia and we will be examining the agreement closely to ensure that hasnt occurred.
BENSON: That is a promise from the Trade Minister that hes had a win in that specific area, pharmaceuticals, that was the battle of the past two days with the United States. The United States calling for and eight year exclusion zone around intellectual property on pharmaceuticals and Andrew Robb winning a five year result and a good result he says.
WONG: Well, we have said that not increasing the cost of medicines or making access to medicines for Australians harder was a red line for us. Andrew Robb claimed it was a red line for him. We look forward to him outlining the detail of how he has ensured that hasnt occurred. I think that would have been unacceptable to the Australian community.
BENSON: This negotiation has been going for five years, more than five years, involving 12 nations. Its now going back to 12 parliaments. Can the Australian Parliament, can you the Labor Party, call for changes, because a deals a deal, it can hardly go back and be renegotiated?
WONG: I think, obviously, the role of Parliament in trade agreements is important, but limited. We dont write the text, for example a Labor Government did not agree to the inclusion of Investor-State Dispute Settlement clauses in agreements we negotiated, we dont believe they are sensible policy. But ultimately when it comes to this agreement we are going to analyse it closely.
We understand the important benefits it has the potential to bring. We also recognise, Marius, that in an era when the multilateral trade negotiations have stalled or become very difficult, its very important that we progress regional agreements such as the TPP. So well certainly look at the agreement closely with an eye to what benefits to Australia this agreement can bring.
BENSON: When you say you dont write the text, does that mean youre only in the position of saying yes or no to the whole deal, its take it or leave it, you cant amend it?
WONG: Certainly the Parliament doesnt amend agreements itself, thats the reality of our system. But what we will do is scrutinise it closely and ensure that this agreement does deliver the outcomes the Government says and in particular the concerns which have been raised over the course of the negotiations have been addressed and they include access to affordable medicine here in Australia.
BENSON: One obvious point of this, not a new point, its been consistent throughout, is that it doesnt include China. Its 40 per cent of the worlds GDP, it includes many Asia-Pacific nations, China seems a glaring exception if you are talking about the Asia-Pacific. Is that a problem for the agreement?
WONG: Look, I think longer term its in the worlds interests and certainly in Australias national interests for China and the United States to be increasingly part of the same trade agreements, thats absolutely the case. So obviously down the track what you want to do is to see how it is you could broaden a regional agreement to include China, thats obviously critical. Particularly so if were not able in future years to get the multilateral trade arrangements to progress, as Ive said they have not progressed as much as everyone would have liked. But obviously this is the agreement that we will consider, its an agreement that doesnt include China, its an agreement that does include nations that comprise around 40 per cent of global GDP, so its a very substantial trading area and we will look at whether or not concerns have been addressed and well look to the benefit for Australia.
BENSON: Penny Wong, thank you very much.
WONG: No worries.
