Regions

Japan has been granted approval from participating countries to form part of the talks on the US initiated Asia Pacific Free Trade Agreement. This is the centerpiece of Prime Minister Shinzo Abe's plan to restart the economy and revive Japan's growth.

The formal invitation was sent to Tokyo by the members of the Trans-Pacific Partnership during the Asia Pacific Economic Cooperation meeting held in Surabaya, Indonesia.

Amongst the nations joining Japan are the United States, Chile, Canada, Malaysia, Mexico, Brunei Darussalam, Peru, Australia, Vietnam, New Zealand and Australia. 

With Japan on board, the final pact for the TPP would cover 40% of the global economic production as well as a third of all the world's trade.

In a joint statement by the trade ministers of the member nations of TPP, "Japan's participation in the negotiation will underscore the economic significance of TPP and its promise as a pathway toward a Free Trade Area of the Asia Pacific."