In everyone's interest to conclude TPP deal

IT remains a big question mark if ministers from 12 Pacific Rim countries - including Singapore, the United States, Japan, Australia and Malaysia - will be able to achieve their goal of reaching a broad agreement on the US-led Trans-Pacific Partnership (TPP) free trade negotiations, the latest round of which is being held in Singapore and will wrap up later today.

Having already failed to reach an agreement at the end of last year as planned, there is mounting pressure on them to sort out the remaining differences on the table and conclude a deal as soon as possible.

The first formal round of TPP negotiations took place almost four years ago in Melbourne back in March 2010.