US President Barack Obama believes the Pacific Trade deal can be finalised this year, despite continued disagreements among prospective members.
AFP reports that Obama told a group of corporate executives in Washington on Wednesday that the Trade Ministers involved in the deal will meet again in coming weeks and a deal is possible.
While accepting that any deal would face the difficult task of being approved by the US Congress, he said that most chapters of the deal have been completed and claimed it would "make sure that we have a level-playing field for businesses and American workers in the fastest-growing region of the world."
The Globe and Mail quoted a Canadian government official as saying a final round of negotiations will take place in the US city of Atlanta near the end of this month.
According to the official, chief negotiators will begin discussions on September 26 and trade ministers are likely to join them in the middle of the following week.
The 12 prospective members of the TPP are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
Meanwhile, AAP reports that Opposition Leader Bill Shorten has offered to hold talks with newly appointed Prime Minister Malcolm Turnbull in an effort to pass the China Free Trade Agreement.
Turnbull has yet responded to the request.