Japan's parliament ratifies TPP despite dim outlook
Baku, December 10 AZERTAC
The Japanese parliament passed a to ratify the Trans-Pacific Partnership (TPP) trade agreement Friday despite the sinking chances of the pact to be ratified in the United States.
According to Global Times, the bill passed a vote in a plenary session of Japan's upper house of parliament Friday afternoon after clearing the vote of a special committee earlier in the day.
Japan's lower house of parliament has voted to ratify the pact and passed a related bill on Nov. 10.
To make the TPP pact come into effect, at least six original signatories have to have successfully ratified the agreement and those six signatories, between them, must represent 85 percent of the total GDP of the 12 original signatories.
The TPP deal involves Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. It was formally signed by ministers from the 12 countries in February after more than five years' negotiation.
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