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TPP Leaders Say Agreement in Sight but Fail to Set Fresh Time Frame

Posted November 12, 2014

Under Economic Issues, International Trade Issues

(Kayo Mimizuka – Kyodo News)

Leaders of countries involved in a U.S.-led Pacific free trade initiative said Monday they now have a clearer vision for completing an agreement, but they did not set a new deadline after it became unlikely that a deal would be reached by year-end as proposed by Washington.

The end of the talks is “coming into focus,” U.S. President Barack Obama, Japanese Prime Minister Shinzo Abe and the 10 other leaders said in a joint statement released after their summit, the first since October last year.

The leaders “welcome the significant progress in recent months” that sets the stage for a Trans-Pacific Partnership deal, the statement said, adding “continued engagement will be critical.” Read more here.