Trade ministers working to implement Pacific deal

Trade ministers working to implement Pacific deal
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Top trade officials said Tuesday that they are committed to implementing a sweeping Asia-Pacific agreement in their home countries.

The ministers from the 12 Trans-Pacific Partnership (TPP) countries said in a statement that they “are working diligently to complete their respective domestic processes.”

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The trade ministers met on the sidelines of the Asia-Pacific Economic Cooperation (APEC) in Arequipa, Peru to review progress in approving the TPP agreement in each of their nations.

The ministers met for the first time since the 12 countries signed the TPP on Feb. 4 in Auckland, New Zealand.

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“TPP creates a new, compelling, high-standard and balanced model for trade in one of the world's fastest growing and most dynamic regions,” the ministers said in a statement.

“Already we have seen economies in the region express interest in joining and ministers agreed to continue to work bilaterally with interested economies to ensure that they understand the standards and rules set forth in the TPP and the requirements that they would need to meet if they wish to join after the agreement enters into force.”

They didn’t name any countries that might be interested in joining the deal.