On 2 October 2014, the Australian Minister for Trade and Investment, Andrew Robb, announced that he will host a three-day meeting of his counterparts from the 12 countries negotiating the Trans-Pacific Partnership agreement (TPP) in Sydney from 25 October 2014. 

Ministers will work to progress negotiations with an eye to concluding the basic elements of the agreement before the end of the year. The Ministers will address key outstanding issues in the negotiations, including agricultural market access, intellectual property and the disciplines on state-owned enterprises. 

The countries negotiating the TPP are Australia, the United States, Japan, Canada, Singapore, Malaysia, Mexico, Vietnam, Peru, Chile, Brunei Darussalam and New Zealand.  The TPP countries jointly account for almost 40 per cent of the global economy.