(VOVworld) – Chilean President Michelle Bachelet has confirmed the importance of joining the Trans-Pacific Partnership (TPP), which is expected for approval of the parliament.

Chilean President Michelle Bachelet. (Photo: AP/ Rebecca Blackwell)

Speaking in Manila, the Philippines, Mrs. Bachelet said on Monday that the Chilean government has enough legal grounds to protect its decision to join TPP despite its parliament’s opposition, because this allows Chile to increase trade exchanges with the other 11 TPP members, which amounts to 40 percent of the world economy. Bachelet said that if it joined the TPP, Chile’s farming products would more easily enter Japanese and Canadian markets. According to the Chilean Ministry of Foreign Affairs, more than 1,600 products will be given preferential tax rates when they enter the Japanese, Malaysian, and Vietnamese markets. Chile’s Foreign Minister, Heraldo Munoz, said that the Chilean parliament will approve TPP at the end of this year or early next year.

Within the framework of visiting the Philippines and attending the Asia-Pacific Economic Cooperation (APEC) Summit, President Bachelet and Filipino President Benigno Aquino agreed to negotiate bilateral free trade agreement next year.