Japan, Singapore vow to maintain high standards ofTPP

Trade ministers of Japan and Singapore pledged to maintain high standards of market access and the rules of the Trans-Pacific Partnership free trade deal, which China and Taiwan made a bid to join last year, Japan s government said.

Trade minister Koichi Hagiuda and his Singaporean counterpart Gan Kim Yong confirmed their commitment to building a free and fair trading system, including by maintaining the high standards of the deal, according to Japan's Ministry of Economy, Trade and Industry.

Japan and Singapore are part of the 11-member TPP, known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Singapore chairs the TPP Commission, the bloc's decision-making body, this year, following Japan s stint in 2021.

The statement was issued after Hagiuda visited the city state and met his counterpart during a six-day tour through Southeast Asian nations, including Indonesia and Thailand through Friday.

According to the Japanese ministry, the expansion of the TPP will be a priority for the Hagiuda and Gan, who stated they want to be able to meet, implement and adhere to its high standards.

Japan welcomed the planned accession to the TPP by the United Kingdom and Taiwan, but has held a cautious position on China due to concerns about Beijing's stance on intellectual property and market-distorting subsidies.

In mid-October, Singapore was reported to have welcomed China's bid to join the deal after a phone call between Singaporean Prime Minister Lee Hsien Loong and Chinese President Xi Jinping.

South Korea is reportedly aiming to submit its application to the TPP before President Moon Jae-in's term ends in May.

According to the Japanese ministry, Hagiuda and Gan signed a Memorandum of Cooperation on reducing carbon emissions while vowing to deepen their partnership in areas such as digital economy and supply chain resilience.