Hanoi (VNA) - The Japanese Government plans to form a new cross-ministryunit to handle all free trade negotiations following the US withdrawal from theTrans-Pacific Partnership (TPP), according to Kyodo News on January 25.
The new entity would handle continued dialogue over the TPP and an economicpartnership agreement between Japan and the European Union (EU).
Japan is also a party to negotiations on the establishment of a Regional ComprehensiveEconomic Partnership (RCEP).
At a press conference, Japanese Deputy Chief Cabinet Secretary Koichi Hagiuda saidthat the Government has yet to decide to merge the units or establish a new unit,but affirmed it as one of the country’s considered options.
The TPP was inked in Auckland, New Zealand in February 2016 after five years ofnegotiations. After the US withdrawal,the TPP consists of 11 countries, including Australia, Brunei, Canada, Chile,Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Japan was the first country to fulfil procedures to ratify the TPP.-VNA
VNA