US called for talks on Asia-Pacific trade deal next week

The US called for the next round of ministerial meeting for the Trans-Pacific Partnership (TPP) agreement next week in a bid to clinch the deal, Office of the United States Trade Representative announced on September 24.

The US called for the next round of ministerial meeting for the Trans-Pacific Partnership (TPP) agreement next week in a bid to clinch the deal, Office of the United States Trade Representative announced on September 24.

 US President Barack Obama (Source: AFP/VNA)

Trade ministers from 12 nations negotiating the trade pact are likely to gather in Atlanta city, the US state of Georgia, from September 30 to October 1, the office said in a statement, adding that TPP chief negotiators from Chile, Australia, New Zealand, Malaysia and Brunei will meet on September 26-29.

The trade ministers failed to wrap up the pact during their four-day talks in Hawaii last July due to disputes on dairy trade, monopoly periods for next-generation, biologic drugs and rules of origin for autos.

On September 16, US President Barack Obama said he is confident that the Asia-Pacific trade deal can be completed this year.

Launched in 2005, the TPP talks involve Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.

Once signed, the deal will become a free trade area with a population of 800 million, covering about 40 percent of global economy.