DHAKA: The United States and 11 other nations negotiating an Asia-Pacific trade pact say they are on track to agree on a comprehensive deal before the year’s end.

A statement issued by the 12 leaders on Tuesday after an Asia-Pacific Economic Cooperation summit in Bali said they have made ‘significant progress’ in setting standards for trade in goods and services, and for investment and public procurement.

It said they had agreed ‘to resolve all outstanding issues with the objective of completing this year a comprehensive and balanced, regional agreement’.

US state secretary John Kerry stood in for president Barack Obama, who stayed home to deal with the debt stalemate.

The nations include Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, reports The Straits Times.

BDST: 1840 HRS, OCT 08, 2013
RoR/RK