Abe: Japan to ratify TPP ahead US presidential

9 years ago - Published in Finance, Fundamental Analysis

Japan’s Prime Minister Shinzo Abe called on the country's parliament to ratify the Trans-Pacific Partnership (TPP) deal, signed in February, before other states. And Abe stressed the Parliament should approve the TPP treaty before the current session ends on Nov. 30.

"We could provide an impetus for the entry of this agreement into force by approving it in parliament faster than other countries," Abe said. He added Japan will help provide momentum to the TPP and help make it a reality by approving it in the Diet (Japanese parliament) ahead of other countries, according to the Kyodo news agency.

The Japanese government's desire to ratify the treaty fast is due to the upcoming US presidential election, both presidential candidates Hillary Clinton and Donald Trump have opposed the opaque negotiation over the terms of the agreement. 

TPP involves 12 countries: the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.
The pact aims to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth. The agreement could create a new single market something like that of the EU.