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

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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