TOKYO -- Members of the Trans-Pacific Partnership trade pact will hold cabinet-level talks as early as the last week of July to discuss four areas where participants remain at odds, including intellectual property and investment.

Intellectual property will likely be the toughest obstacle. A major bone of contention is how long to protect data needed for drugmaking. The U.S., aiming to help its global pharmaceutical giants defend their profits, has called for a period of more than 10 years. But Australia and emerging Asian countries have pushed for five years to allow for earlier production of cheaper generics. A transition period has been proposed as a compromise, but wide gaps between the parties remain.

In the investment section, the focus is on a provision allowing for investor-state dispute settlement. A multinational corporation subjected to unfair treatment could take legal action against the government of the country in question. Some TPP members worry that the process could be abused by American companies. Measures to prevent this are under discussion, including permitting swift dismissal of groundless claims and limiting claim periods to a certain number of years.

Difficult talks also lie ahead for the section on state-owned enterprises, with some members seeking provisions for competition. Negotiations will also be rough for a TPP section listing exemptions, such as for ethnic minorities or based on cultural factors.

Source: Nikkei

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