Japan’s Amari Says That TPP Needs to Reach Agreement By Year End

Akira Amari, Japan’s minister in charge of talks for the Trans-Pacific Partnership trade initiative, said Sunday that the 12 countries involved in the negotiations are aware they need to reach a broad agreement by the end of this year.

“We share the recognition that we will face a long-term risk if we fail to reach a broad agreement” for creating a massive free trade area bordering the Pacific, Amari told reporters in Nagoya.

The 12 TPP countries initially sought to strike a deal by the end of 2013 but missed that deadline due mainly to Japan-U.S. bickering.

Amari also said the member countries will determine a schedule for future talks after their chief negotiators gather in July.

Ministers of the 12 countries held a meeting in Singapore last Monday and Tuesday, but they fell short of setting a clear timeline for ending their long-running negotiations.

via Mainichi

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.