Canada announces Pacific trade deal without US

Trade ministers and delegates from the remaining members of the Trans Pacific Partnership attend the TPP Ministerial Meeting during the APEC 2017 in Da Nang

Prime Minister Malcolm Turnbull today hailed the revival of the Trans Pacific Partnership (TPP) as a boon for jobs, but critics questioned how much Australia would really gain from a deal that excludes the US.

The 16 participating countries in the China-led RCEP, on the other hand, will try to conclude the agreement this year under Singapore's chairmanship of the Asean, Trade Undersecretary Ceferino S. Rodolfo Jr. said on January 15.

Abe has painted the deal as a spur to growth and reform in Japan and a symbol of commitment to free and multilateral trade at a time when Trump stresses "America First" policies.

Manila will continue to focus its efforts to concluding the Regional Comprehensive Economic Partnership (RCEP) despite the breakthrough made by the 11 remaining negotiating countries in the Trans-Pacific Partnership (TPP).

US President Donald Trump withdrew his country from the original multilateral free trade deal early past year.

Despite difficulties after Trump announced he would pull out of TPP, "we stuck with it".

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Australia's opposition Labor party said the new pact had lost its shine since the USA withdrawal and the government had failed to specify how the country would benefit from it.

The agreement follows two days of high-level talks in Tokyo and was confirmed by Canadian International Trade Minister Francois-Philippe Champagne.

Vietnam's request for postponing the introduction of rules to resolve labor disputes and the Canadian demand for limiting foreign investment to protect movies and other domestic cultures will not be frozen but be reflected to a certain extent in bilateral agreements between the members, informed sources said.

Canada returned its backing to the TPP after nearly pulling off a Trump last November in a bid to protect its cultural industries, such as movies, TV and music.

"Diversification is key for Canada. for us opening up markets is essential", he told reporters in Toronto.

The breakthrough came on the same day that negotiators started the sixth and penultimate round of talks on Nafta, which US President Donald Trump has repeatedly threatened to abandon.

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