Country TRANS-Pacific partnership will continue to work on a trade agreement without the United States

Country TRANS-Pacific partnership will continue to work on a trade agreement without the United States

Top representatives of 11 countries of the world said Friday that they had reached agreement on «basic elements» of the trading partnership without the United States.

In 2016, the US and 11 countries who took part in the APEC summit in the Vietnamese da Nang signed an agreement on the establishment of the TRANS-Pacific partnership. The participants, besides the U.S., includes Australia, Brunei, Vietnam, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, Chile and Japan. The negotiations on this issue took almost 10 years. Now the partnership moves to the next stage, the establishment of the Asia-Tikhookeanskoi free trade zone.

Country TRANS-Pacific partnership will continue to work on a trade agreement without the United States

«Ministers are happy to announce that they have agreed on the key elements of a Comprehensive and progressive agreement on cross-border partnership», the statement reads 11 countries.

The country also stated that they intended to maintain «high standards of quality, the overall balance and integrity of the thermal power plants, while providing commercial and other interests of all participants and preserving our inalienable right to regulate, including flexibility in setting legislative and regulatory priorities.»

President trump withdrew the United States from the TRANS-Pacific partnership in January of this year, shortly after taking office.

«We talked about it for a long time,» trump said then, adding that the rejection of the agreement is «wonderful for the common American worker».

At the same time, Japan economy Minister Toshimitsu Motegi, speaking at the summit, expressed hope that the development partnership will be a step toward returning the U.S. to the agreement.

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