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Japan ratifies Trans-Pacific Partnership that Trump plans to dump

Trump is strongly inclined to making the exit from TPP as soon as he takes office.

Tokyo: Japanese Prime Minister Shinzo Abe has won parliamentary approval for ratification of the Trans-Pacific Partnership, despite US President-elect Donald Trump's plan to withdraw from the 12-nation trade pact.

Upper house lawmakers approved the TPP on Friday, heeding Abe's calls to push ahead with it despite Trump's rejection of the free-trade initiative championed by President Barack Obama.

Japan's ratification still requires Cabinet approval of needed regulatory revisions.

The market opening measures required by the trade pact are seen as a way for Abe to push through difficult reforms of the agricultural and health sectors.

So far, Abe has made scant progress on a slew of reforms he proposed to help improve Japan's lagging productivity and competitiveness.

Trump has vowed to take steps to exit the pact right after he takes office.

( Source : AP )
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