(MENAFN- Kuwait News Agency (KUNA)) Japanese Economic and Fiscal Policy Minister Akira Amari said Tuesday the Trans-Pacific Partnership (TPP) countries are arranging to hold next ministerial talks on July 28 in Hawaii, with an eye to reach a broad trade accord.
"There is no confirmation yet for the date (of the meeting), but I hope that we will work on the final details of the agreement and make it the last ministerial gathering," Amari, who is also the minister in charge of the TPP free trade talks, told a press conference, showing his strong determination to conclude the negotiations.
The upcoming ministerial meeting among 12 Pacific Rim countries will be held after US President Barack Obama earlier this month signed into law legislation that grants him fast-track authority to finalize the TPP free trade deal.
The US-led TPP member states - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam - have been trying to bridge the gaps between their respective demands, such as as tariffs on imported goods, protection of intellectual property rights and preferential treatment for state-run companies.
The 12 economies account for almost 40 percent of global gross domestic product (GDP) and about one-third of all world trade.
Japan and the US, the two biggest economies in the trade talks, are scheduled to resume bilateral working-level talks soon in their efforts to solve remaining issues, including tariffs on sensitive agricultural products and automobiles.
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