Japan wins spot in mega trade pact

JAPAN has won its bid to enter talks on a massive Pacific trade pact that includes Australia.

The Trans-Pacific Partnership (TPP) would account for more than 40 per cent of the global economy.

Japan had to win over Canada to be included in the US-driven partnership, which also includes Brunei, Chile, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

Canada had been the sole nation of the 11 in the proposed agreement that still opposed Tokyo's participation.

"These consultations have been informed by a robust and ongoing engagement with Canadian stakeholders, and it's that engagement that helped inform this process," Canadian Trade Minister Ed Fast said.

"We look forward to continuing to work together (with Japan) to deepen our trade and investment relationship in a manner that will generate significant benefits for hard-working people in both our countries."

Canada's approval came after bilateral talks on the sidelines of an Asia-Pacific Economic Cooperation trade ministers' meeting in Surabaya.

Washington earlier this month gave Japan the thumbs-up for talks on the free-trade agreement despite opposition from Japanese farmers and some US labour groups and manufacturers.

President Barack Obama has championed the TPP as a way to boost the US economy through trade and to build a US-driven order in a fast-growing region where China - which is not part of the talks - is gaining clout.

To allay concerns of higher competition in the US automotive industry, Japan, the world's third-largest economy, agreed that US tariffs on its cars would be phased out at the latest possible time allowed by a future accord.

Japan's Ministry of Economy APEC office director Ken Sasaji said Japan's participation in the talks was a major step toward the TPP's aim to create a free-trade zone among nations on the Pacific rim.

"As APEC leaders agreed, our final destination is FTAAP - a free-trade agreement in the Asia-Pacific," Sasaji told reporters.

"Now Japan is promoting various efforts to promote economic integration and economic partnerships, especially the trans-Pacific partnership, which is one of the most important efforts."

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