Business

Japan and Chile eye cooperation over implementation of Trans-Pacific Partnership

Kyodo

Japan and Chile agreed Tuesday to cooperate over the early implementation of the Trans-Pacific Partnership free trade agreement.

At the outset of a meeting with his Chilean counterpart Roberto Ampuero, Foreign Minister Taro Kono expressed hope that the two countries will lead efforts to promote free trade as members of the 11-member TPP.

The meeting was aimed at strengthening cooperation between Japan and Chile in various areas, including disaster response, under the administration of Chilean President Sebastian Pinera.

The TPP, which was signed in March following the abrupt U.S. pullout under President Donald Trump, enters into force 60 days after at least six countries have finished their domestic procedures.

The accord, which is formally called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, includes countries that collectively make up around 13 percent of the global economy.

The 11 TPP members are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.