The heads of the International Monetary Fund and the World Bank have welcomed the broad agreement on the Trans-Pacific Partnership. The deal was reached this week by 12 nations. It would become the largest trade accord in decades once it's ratified by the participating countries' national legislatures.
(Christine Lagarde / IMF Managing Director)
"As a matter of principle, such a trade agreement is bound to unleash some potential, is bound to create some value, is bound to open up more borders. And as such, you know, historically, we've always seen that as a boost to economic growth. And bringing 40 percent of world GDP together on that basis is bound to be beneficial for global growth."
Lagarde also responded to the issue of the U.S. and China separately trying to create regional trade alliances. Lagarde said the IMF hopes that the "various regional, bilateral agreements can be reconciled and will not create too much by way of conflict or discrepancies between the rules."
◆trade accord 貿易協定
◆ratify 批准する
◆legislature 議会、立法機関
◆unleash 解き放つ
◆reconcile 調和させる
◆by way of ～という形で
◆discrepancies 食い違い、不一致
