Trans-Pacific trade pact to be signed in March

15:23 | 25/01/2018 Global Economy

Eleven countries aiming to forge an Asia-Pacific trade pact after the United States pulled out of an earlier version will sign an agreement in Chile in March, announced Japan’s economy minister Toshimitsu Moteg on January 23.

Vietnamese Minister of Industry and Trade Tran Tuan Anh (L) and Japanese Minister of Economic Revitalisation Toshimitsu Motegi at a press conference in Da Nang city, Vietnam in November 2017 - Photo : NDO

Previously, in January 2017, US President Donald Trump pulled the United States out of the original 12-nation treaty.

Canada’s Prime Minister Justin Trudeau called the agreement the “right deal”.

The timing of the deal is significant for Canada, which is trying to diversify its exports. US, Canadian and Mexican negotiators opened a key week-long round of talks to modernise NAFTA on Tuesday.

Ministers from the 11 countries, including Japan, Australia and Canada, agreed in November on core elements to move ahead without the United States, but demands by countries including Canada for measures to ensure the deal protects jobs blocked a final agreement.

Theo NDO/Reuters