Media: the Japanese Parliament will consider the Treaty on TTP in 2016

Media: the Japanese Parliament will consider the Treaty on TTP in 2016


In the framework of the agreement will be established a free trade area among the countries, which account for over 40% of the world economy. The issue of Japan’s participation in TPP will be considered at the January 4 opening session of the Japanese Parliament.

TOKYO, 28 Oct. Ivan Zakharchenko. The agreement on TRANS-Pacific partnership (TPP) will be submitted for approval to the Parliament of Japan in the first half of 2016, passed on Wednesday news Agency Kyodo with reference to a number of sources.

According to sources, Kyodo, Japan’s participation in TPP will be considered at the January 4 opening session of the Japanese Parliament, which will last 150 days.

Agreement on establishing a free trade zone in the framework of the TPP, which includes 12 countries (USA, Canada, Mexico in North America, Peru and Chile — in the South, Japan, Malaysia, Brunei, Singapore and Vietnam in Asia as well as Australia and New Zealand), was reached on 5 October.

Under the TTP will be created a free trade area among the countries, which account for over 40% of the world economy and a third of world trade. By acceding to that agreement, Japan would have to repeal most of the tariffs on imported products.