TPP negotiations near final conclusion

The US and Australia continued their debates on IP for biopharmaceuticals. The parties are likely to come up with a compromise with the 5+3 model. This means  protectionism by parties will last for 5 years and extend to 3 years in some categories.

There has also been some lag in negotiations in dairy import limits between the US, New Zealand, Japan, and Canada.

The meeting is expected to continue until late Saturday and conclude on Sunday local time.