Leaders of the 12 Trans-Pacific Partnership (TPP) member countries adopted a Joint Statement demonstrating their strong commitment to pushing ahead with the signing, ratification, and execution of the agreement at the sixth high-level meeting in Manila, the Philippines, on November 18.

This was the first time that TPP leaders from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Viet Nam came together since negotiations on the world’s largest free trade pact concluded in Atlanta, the US, last October.

President Truong Tan Sang (first right) and TPP leaders in a photo at the event

The leaders expressed their confidence that the agreement will help promote and expand mutually beneficial connectivity among member economies as well as enhance regional competitive edge and generate jobs for locals, especially young people.

The execution of the TPP will face challenges, especially for developing member countries, he said, adding that the involved parties should continue close coordination and mutual assistance so that the TPP will be signed, ratified and implemented as scheduled.

The TPP high-level meeting took place on the occasion of the APEC Summit. It has become an annual practice since the TPP negotiations kicked off in 2010.

This year’s meeting has significant meaning as it marks the completion of a balanced and comprehensive pact after five years of negotiations. The full text of the agreement was released by all member countries on November 5 as references for businesses and people.

The parties involved are exerting every effort to complete all necessary domestic formalities to sign and ratify the agreement as scheduled.

(Source: VNA)