(VOVworld) – The latest round of the Trans-Pacific Partnership (TPP) Agreement negotiations ended in Washington on Sunday without significant progress on 2 major issues: intellectual property rights and reform of state-owned entities.

A round of TPP talks in Sydney, Australia, on October 25, 2014 (Photo: AFP/VNA)

TPP negotiations, which began in 2012, involve 12 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam. They are trying to finalize the deal as soon as possible after having missed the 2013 deadline. The TPP is expected to create a free-trade zone comprising 800 million people, 30% of global trade, and nearly 40% of the world's economic output.