KUALA LUMPUR (Nov 10): The 12 countries involved in the Trans-Pacific Partnership Agreement (TPPA), which includes Malaysia, has released a statement today saying the  agreement is nearing conclusion from having made "significant progress" in recent months.

"We are encouraged that ministers and negotiators have narrowed the remaining gaps on the legal text of the agreement and that they are intensively engaging to complete ambitious and balanced packages to open our market to one another...," said the statement, issued through the Ministry of International Trade and Industry.

The statement added that "with the end coming into focus", the respective governments have instructed their ministers and negotiators to "make concluding this agreement a top priority" in order for the different segments of society to reap "real and substantial benefits" from the agreement.

It added that the primary direction given to the ministers and negotiators was to negotiate an outcome that will "generate the greatest possible benefit for each of our countries".

The statement said each country has actively engaged with stakeholders for feedback and will continue to do so to solve thorny issues within the proposed agreement.

Besides Malaysia, Australia, Brunei, Canada, Chile, Japan, Mexico, New Zealand, Peru, Singapore, United States and Vietnam are part of the agreement.