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Ottawa, Jan 23 (ICandian-Media): Canada and other members of the Trans-Pacific Partnership (TPP) excluding United States, agreed Tuesday to a revised trade agreement, media reports said.
Canada is reportedly the second-largest economy among the TPP.
Justin Trudeau. Image credit: Facebook page
Other partners included besides Canada were Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
Confirmation of the deal between Canada and the 10 other remaining TPP economies took place by Singapore's government in Tokyo
Signing of this agreement is reported to be in early March
It was in the midst of Canada's tough renegotiation of the North American Free Trade Agreement (NAFTA) that TPP agreement was reached.
The meeting of the NAFTA negotiators from Canada, the United States and Mexico, according to official reports, would take place in Montreal this week.
Ian McKay, Vancouver Economic Commission chief executive was reported to join as Trudeau's special envoy and Canada's chief and deputy chief TPP negotiators in Tokyo for two days of talks that were scheduled to conclude on Tuesday.
among the number of changes agreed to by TPP trade ministers were stronger protections for the environment and labour rights.
The pact was also rebranded as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
It is hoped that this deal according to official reports, would open up access for Canada to Japan's economy -- the third-largest in the world -- and would be beneficial for Canada's agricultural, seafood and forestry sectors.
(Reporting by Asha Bajaj)