WASHINGTON, Oct. 27 (UPI) -- A broad outline on a Pacific free-trade pact can be reached by next month's Asia-Pacific Economic Cooperation summit, the U.S. trade representative said.
"As progress continues in Lima, I believe we will remain on track to fulfill the mandate set out for us, to reach the broad outlines of an agreement by the APEC leaders' summit in Honolulu," Ron Kirk told the U.S. Chamber of Commerce in Washington.
The Pacific free-trade pact negotiations involve the United States, Australia, New Zealand, Brunei, Chile, Malaysia, Peru, Singapore and Vietnam. Their negotiators are currently meeting in Lima, Peru, ahead of the Nov. 12-13 APEC summit in Honolulu.
The free-trade pact effort has been under way as the Doha round of global talks remain stalled.
"The American economy needs TPP [Trans Pacific Partnership] for its jobs-and growth-generating potential. The American economy needs TPP to help it embrace the world's most dynamic region; and we need TPP to inject new important ideas into global trade policy," Kirk was quoted as saying by Kyodo News Service.
The U.S. trade representative said unlike the voluntary APEC, the nine Pacific countries are "seeking to secure binding commitments that reflect the highest levels of ambition."
Japan has yet to decide whether it wants to join the TPP.
Japanese Prime Minister Yoshihiko Noda plans to make a decision by the APEC summit, Kyodo reported.
However, there is opposition to the TPP among some Japanese lawmakers and its farmers. Elsewhere, too, there is concern the pact would allow cheaper products from one member state to flood another member state.
