TPP countries to discuss agreement in principle on trade deal: Japan

TPP countries to discuss agreement in principle on trade deal: Japan

A motorcycle passes a banner near the venue of the Apecsummit in Danang November 9, 2017.

Japan and 10 other countries were moving closer to a deal on pushing ahead with the Trans-Pacific Partnership trade pact without the U.S., in a sign of how Pacific Rim economies are moving on with globalization despite resistance from Donald Trump.

The free trade agreement with many stipulations covering trade and non-trade issues was officially inked on February 4, 2016, among 12 countries, namely the United States, Canada, Mexico and Peru, as well as Chile, New Zealand, Australia and Japan, along with Singapore, Brunei, Malaysia and Việt Nam.

PM Phuc affirmed that the new agreement on bilateral relations will open a new chapter in socio-economic, cultural, defence and security cooperation in the spirit of comprehensive partnership.

"We have collectively reached the stage where we can discuss a proposal for a final package for an agreement in principle of the TPP", Motegi told ministers from the other countries. "It's something Canada is, of course, very much engaged in discussion about - how we can move forward in a way that is beneficial to Canada and to our partners", he said. It also has provisions for protecting everything from labour rights to the environment to intellectual property - one of the main sticking points.

Any kind of TPP deal looked in doubt earlier in the week after officials said Vietnam's chief negotiator had walked out of one round of talks and Canadian Prime Minister Justin Trudeau then skipped a leaders' meeting on the pact.

Canada's position has been further complicated by the fact that it is simultaneously renegotiating the North American Free Trade Agreement with the Trump administration.

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