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Vietnam's Trade Minister Tran Tuan Anh and Japan's Economy Minister Toshimitsu Motegi attend a news conference on the TPP Ministerial Meeting in Da Nang on Nov. 11.   © Reuters

'TPP 11' nations reach agreement in principle, to take effect by 2019

Members aim to ratify and sign by next spring, despite absence of US

SHOTARO TANI, Nikkei staff writer | South Korea

DANANG, Vietnam -- Trade ministers from the 11 Trans-Pacific Partnership nations officially agreed on key aspects of the trade pact on Nov. 11, a decision they hope will shape the future of business in the Asia-Pacific region for years to come, despite the absence of the U.S. from the agreement. The signatories aim to sign the document by next spring. 

After each country clears the necessary domestic procedures, the agreement is to take effect by 2019, creating an unprecedentedly expansive, multilateral free-trade agreement covering the entire Asia-Pacific region.

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