• Kyodo

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Australian Trade Minister Andrew Robb said Thursday he is confident that the Trans-Pacific Partnership will be finalized next year, according to Australian Associated Press.

Robb revealed that the negotiations are about 80 percent complete, with market access being the main sticking point.

“It’s a very complicated thing and I think we have probably negotiated 80 percent,” he was quoted as saying. “The last 20 percent is largely market access, and we’ve said all along unless there is a decent market access result, we are not interested.”

The 12 countries negotiating the free trade pact represent some 40 percent of the global economy.