Chile’s president vows to fight for Asia-Pacific trade deal

Chile's President Michelle Bachelet said Wednesday that Latin America will spearhead efforts to boost Asia-Pacific trade now that the US has withdrawn from the TPP deal.

Addressing a special session of the World Trade Organization, Bachelet said Chile and its Latin American allies will offer an alternative platform for promoting trade liberalization in the Asia-Pacific region. She called for reviving some of the gains made during TPP negotiations and vowed to strengthen the principles of multilateralism.

Negotiations on the trans-Pacific Partnership Agreement (TPP), a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, the US, and Vietnam, concluded in October, 2015. The TPP had entered a two-year ratification period by the 12 countries' governments when the US' withdrawal put the other partners in a fix.

Source: VOV5