The 11-country free trade agreement formerly known as the Trans-Pacific Partnership may take effect by the end of this year, the minister in charge of negotiations, Toshimitsu Motegi, revealed Friday.
At a press conference, Motegi said Canada and Australia are expected to complete procedures to ratify the trade pact in the near future, bringing the number of countries that will have done so to six.
Motegi, also minister for economic and fiscal policy, expressed hope that the trade deal will take effect soon, saying the pact's entry into force will be a "message that new trade rules that are free and fair will be spread around the world."