China says TPP should be transparent, open

BEIJING - China hopes that the Trans-Pacific Partnership (TPP) can be transparent and open and contribute to free trade and investment along with other arrangements in the region, a Chinese official said Tuesday.

Shen Danyang, spokesman with the Ministry of Commerce, told a press conference that China has been closely watching TPP negotiations and assessing the progress.

Trade representatives from 12 Pacific Rim countries failed to reach a final deal after a four-day TPP ministerial meeting held in the United States that ended on Friday.

The TPP talks involve Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

Shen said that China noticed the failure and hopes the TPP will stay transparent and open.

"TPP and other free trade frameworks in the region should promote each other to jointly contribute to the liberalization and facilitation of trade and investment," he said.

TPP is one of the most important free trade agreements in the Asia-Pacific region. The deal, if reached, will have huge effects on world trade and the investment framework and economic integration in the region, Shen said.