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TPP-11 leaders put deal back on track minus US

DANANG: The Trans-Pacific Partnership among the remaining 11 countries is back on track despite a last minute no show of Canadian leader Justin Trudeau at a leaders' meeting on Friday (Nov 10) which threatened to derail the deal.
The agreement, minus the United States, will now be known as Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The CPTPP countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Japanese Economic Minister Toshimitsu Motegi in announcing the details at a press conference said the agreement would still need to be finalised in the coming months.
"We have gotten mostly for pharmaceutical and copyright. We have gotten suspension such as data exclusivity on biologics and chemical drugs and on key copyright items," he said after the joint press conference by Motegi and Vietnam Trade Minister Tran Tuan Anh.
"Officials will now have more work to do before the signing," he added.
Motegi revealed that for the 11 countries to reach agreement on pushing ahead with the deal, 20 provisions of the original agreement will be suspended.
The agreement will take effect after ratification by six of the 11 members.
The accord reached by the ministers in Danang will be "a proactive message to the United States and other countries in the Asia-Pacific region," the Japanese minister said.
When the United States withdrew from TPP in January, officials and ministers from the remaining 11 countries met to salvage the deal and one option was to suspend some of the provisions agreed when the US was part of TPP.
Malaysia was one of the countries that submitted its "shopping list" for suspension in some provisions involving intellectual property rights and government procurement.
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