WASHINGTON (Sputnik) — Singapore is hopeful that the US Congress will sign the Trans-Pacific Partnership (TPP) trade deal in the near future, Singapore’s Prime Minister Lee Hsien Loong stated on Tuesday during an arrival ceremony at the White House.
“Singapore fervently hopes that the US will stay engaged and maintain its indispensable role in the Asia-Pacific. In particular, we hope — and I’m sure the President [Barack Obama] shares this hope — that Congress will ratify the TPP soon,” Lee said.
On October 5, 12 countries of the Pacific Rim region reached an agreement on the wording and subject matter of the TPP trade deal, intended to deregulate trade among the signatories which together make up some 40 percent of the world economy.
The parties to the TPP agreement are the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.