Motegi: 11 TPP countries reconfirm broad agreement


Toshimitsu Motegi is among ministers from 11 countries that in principle reached the agreement at a meeting in the Vietnamese city of Da Nang on Thursday.

The agreement was to be confirmed at the summit meeting scheduled for Friday, but was postponed.

That came as Canadian Prime Minister Justin Trudeau told his Japanese counterpart Shinzo Abe in a meeting before the planned summit that member countries were not ready to confirm the agreement.

This led TPP ministers from the 11 countries to hold a new round of talks on Friday.

Motegi told reporters that Canada’s delegation said it had gained consent from the top leader.

Motegi also said it would be difficult to hold a summit due to the schedules of the leaders. He said he and his co-chair, Vietnamese Industry and Trade Minister Tran Tuan Anh, will publicize the content of the agreement and release ministers’ statement on Saturday.

Motegi said the Canadians had expressed clear support for the broad agreement on Thursday, and added that this time the country confirmed all the details including wording.

Top leaders of TPP signatory countries are in Vietnam to attend the Asia-Pacific Economic Cooperation summit.

The 11 current members of the Trans-Pacific Partnership free trade agreement have canceled a summit in Danang, central Vietnam, slated for Friday due to Canada’s objection. (Jiji)

Japan’s Economic Revitalization Minister says all the 11 signatory nations of the Trans-Pacific Partnership trade deal have reconfirmed their broad agreement to put the deal into effect without the United States. (NHK)

The US Agriculture Department says US pork exporters to Japan will face tariff disadvantages if 11 countries reach a broad agreement on the Trans Pacific Partnership free trade deal, or TPP. (NHK)

The remaining 11 countries in the Trans Pacific Partnership (TPP) trade deal will discuss a proposal for an agreement in principle to proceed after the withdrawal of the United States, Japanese Economy Minister Toshimitsu Motegi said on Thursday. (Reuters)

The Japanese economy expanded for a 58th consecutive month in September to mark the second-longest recovery in postwar history, government data shows, but sluggish wage growth and consumption belie the statistical milestone’s significance for most people. (Nikkei)

A World Trade Organization (WTO) dispute settlement panel in Geneva, Switzerland has ruled in Japan’s favor in a dispute over South Korean restrictions on imports of Japanese seafood imposed after the 2011 Fukushima nuclear disaster. The panel notified the two sides of the result on 18 October. (seafoodsource.com)

The IMF on Wednesday urged Japan to maintain its massive monetary stimulus to boost consumer prices, a view echoed by a central bank board member, reinforcing expectations policy will remain accommodative. (Reuters)

Some Japanese government and ruling camp officials have proposed a tobacco tax increase of 3 yen per cigarette over several years beginning in October 2018, informed sources said Wednesday. (Jiji)

Tokyo stocks extended their winning streak for a fourth day Tuesday, lifting the Nikkei Stock Average to its highest close in more than 25 years. (Nikkei)

Nationwide inflation remains “relatively weak” but prices will gradually be pushed up toward the Bank of Japan’s 2 percent target by rising labor costs, Gov. Haruhiko Kuroda said Monday. (Japan Times)


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