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Japan-EU trade pact could accelerate Asia-Pacific deals

Trans-Pacific Partnership members don't want to lose out to Europe

BRUSSELS -- Now that years of trade talks with the European Union have born fruit, Japan hopes to harness momentum from that deal to advance other major free-trade pacts, including a Trans-Pacific Partnership with or without the U.S.

"The timing is outstanding," an official from Japan's Ministry of Economy, Trade and Industry said of a broad Japan-EU economic partnership agreement reached Thursday. In fact, they could not have asked for a better venue to show off their achievement. Prime Minister Shinzo Abe and EU leaders approved the pact here just one day before representatives of the Group of 20 advanced and emerging economies meet in Hamburg, Germany.

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