Australia says trade deals will not hurt TPP

MELBOURNE: Australia's trade deals with Japan and South Korea would not undercut work on multilateral deals, according to Australia's Treasurer Joe Hockey.
Australia is involved with other nations, including the United States and Malaysia, on negotiating the Trans-Pacific Partnership (TPP).
The American agricultural lobby says Australia's exemptions for Japan in its trade agreement will set a dangerous precedent as other countries seek similar special treatment.
Hockey said the government had a responsibility to finalise the trade deals, which had been the subject of talks for many years.
"We want to get on with opening up markets for Australia and we are strongly supportive of TPP negotiations," the Australian Associated Press reports Hockey as telling CNBC in Washington.
"But you have to have the capacity to walk and chew gum at the same time and that means that if we can nail down new agreements that open access for Australia's economy to the Asian region, well, we'll get on with it."
Australia would continue to work on a free trade agreement with China. It needed to reboot the economy and take advantage of growth opportunities, particularly out of Asia, he said. – Bernama