Japan to seek early approval of TPP deal

Tokyo, Jan 3 (IANS) The Japanese government is aiming to seek an early approval of an agreement on the Trans-Pacific Partnership (TPP) free trade initiative, the media reported on Sunday.

Japan, the US and 10 other countries reached a broad TPP agreement in October. Preparations are under way for cabinet ministers in charge of the TPP to sign the deal in early February, public broadcaster NHK reported.

A signing ceremony will be held either in the US or New Zealand. New Zealand is in charge of compiling the text of the accord.

After the signing, Japan will seek parliament’s approval of the accord and also submit bills to provide support for farmers.

The 150-day ordinary parliament session begins on Monday.

The government estimates that the TPP accord would raise Japan’s GDP by about 14 trillion yen ($115 billion).

 

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