TPP cannot exist in isolation, says former French PM

The Trans-Pacific Partnership could have a "beautiful" future if it is compatible with China's economic transition, according to former French prime minister Jean-Pierre Raffarin. [Photo/IC]

The Trans-Pacific Partnership could have a "beautiful" future if it is compatible with China's economic transition, according to former French prime minister Jean-Pierre Raffarin.

"I don't think it would be good to have a policy for a special part of the world without international cooperation. Now the world is small and everybody must be part of it," the 67-year-old French politician said.

Jean-Pierre Raffarin, former French prime minister. [Photo provided to China Daily]

Early in October, trade ministers from 12 countries, including the United States, Australia and Japan, signed the Trans-Pacific Partnership, which the signatories claim is the biggest trade deal in a generation.

Lawmakers from TPP countries must also approve the deal, a process that involves lengthy, extensive wrangling.

"We can discuss with China and other countries shared strategies. We need to have good cooperation. Without cooperation, there is no treasure."

He was speaking at the Boao Forum for Asia Financial Cooperation Conference in London, held from Monday to Tuesday.

With the G20 summit round the corner, Raffarin noted that global leaders need to discuss what countries around the world can do to push innovation at the summit.

"We have to discuss what is the best way for our economy. For example, what is being done in China about innovation is very important," he said, adding that countries need to discuss strategies to push innovation.

China has been a loud and persistent proponent of innovation in the past 10 years or so, with its leaders often declaring how important it is and indicating that it would be one of the main driving forces for economic reform and development.

"That's what we need to think about at G20... We need to discuss what are the means to achieve international cooperation. We can't have success alone."

Leaders of the G20 major economies, including the US, China, the UK, Japan, Russia, Canada, Australia and Brazil, are meeting on Sunday and Monday in the Turkish Mediterranean resort of Antalya to discuss global economic issues.

The Turkish G20 presidency has released priorities for the summit, which fall under three main pillars: strengthening the global recovery and increasing potential, enhancing resilience and buttressing sustainability.

Raffarin served as the French prime minister from 2002 to 2005, but stepped down after France's rejection of the referendum on the European Union draft constitution.

Climate change is one of the hot topics at G20 summit, and Raffarin said that right now big powers were taking decisions for the future.

"We thank China, the US, and many countries have made lots of efforts to reduce emissions... It is a good step and a good direction."

At the UN Sustainable Development Summit in September, President Xi Jinping said that China will set up a fund, with initial contribution of $2 billion, to support South-South cooperation and assist developing countries in implementing their post-2015 development agenda adopted at the summit.

Raffarin praised China for its "very useful" preparatory work to reach a binding deal on global warming by December 2015.

Karen Kwok contributed to this story.