Japan and US to Work Toward TPP Deal This Year

Japanese trade minister Toshimitsu Motegi and U.S. Trade Representative Michael Froman agreed Sunday that the two countries will work together toward concluding the Trans-Pacific Partnership free trade negotiations within the year.

Meeting before the 19th round of the talks aimed at forging one of the largest free trade areas in the world, the two reaffirmed their commitment to the target set by members of the negotiations that are already over three years old.

Motegi said he told Froman that the Japanese government has decided to “work toward concluding a TPP deal within this year constructively and proactively.”

“We made a commitment to work together,” he told reporters after the meeting.

Earlier this month, Japan and the United States held the first round of bilateral trade negotiations on autos and nontariff barriers in parallel with the TPP negotiations.

Motegi said he wants to “accelerate” the Japan-U.S. talks as well.

On Monday, Froman, who is visiting Japan for the first time as the U.S. trade representative, is scheduled to meet with other government members including TPP minister Akira Amari, who will attend a ministerial meeting at the upcoming Brunei round.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza