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New Zealand ratifies TPP www.nhk.or.jp
New Zealand has ratified the Trans-Pacific Partnership free trade agreement, becoming the second country to do so after Japan.
New Zealand's Cabinet made the decision on Thursday, completing domestic procedures for ratification.
The country insists that the TPP be implemented even though the United States pulled out of the pact in January.
Trade Minister Todd McClay said in a statement that the pact remains valuable both economically and strategically.
He said New Zealand is still actively exploring alternative options for the TPP and expects other TPP partners to also ratify in the coming months.
The trade deal was initially signed by 12 nations, including the US, which later withdrew. Ministers from the other 11 nations will discuss the deal in a meeting in Vietnam on May 21st.
Ahead of the gathering, New Zealand Prime Minister Bill English will meet his Japanese counterpart Shinzo Abe during his visit to Japan next week.
English said a focus at the summit will be strengthening bilateral trade and economic links, including through the TPP.
Published Date:2017-05-12
