Trade ministers from 11 Pacific Rim countries said they reached an agreement Saturday to proceed with the free-trade Trans-Pacific Partnership deal that was in doubt after President Donald Trump abandoned it.
However, an immediate formal endorsement by the countries' leaders meeting in Vietnam appeared unlikely.
A statement issued in the early hours Saturday said an accord was reached on "core elements" of the 11-member pact.
The compromise was delayed by last-minute disagreements that prevented the TPP leaders from meeting to endorse a plan on Friday.
"Ministers are pleased to announce that they have agreed on the core elements of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership," the 11 nations said in a statement.
Japan's delegate to the talks, Economy Minister Toshimitsu Motegi, told reporters that disagreements that cropped up Friday had been resolved in five hours of talks that stretched late into the night.
"We have confirmed there was no mistake about us having reached a basic agreement," Motegi said.
Asked by reporters if the deal had the support of Canada, whose Prime Minister Justin Trudeau did not show up for the meeting planned for Friday, Motegi said "yes."
"Canada did agree, and that means the 'top' also agreed," he said.
Japanese media reported that the Japanese and Vietnamese co-chairs of the ministerial meetings would hold a news conference Saturday on the sidelines of the summit of the Asia-Pacific Economic Cooperation forum, which wraps up later Saturday.
Despite enthusiasm for sticking with the plan following the US withdrawal under Trump in January, criticism over various issues persists.
Detractors of the TPP say it favors corporate interests over labor and other rights. Trudeau said days before arriving in Danang that he would not be rushed into signing an agreement that did not suit Canada's interests.
The US president told an APEC business conference that "we are not going to let the United States be taken advantage of anymore."
He lambasted the World Trade Organization and other trade forums as unfair to the United States and reiterated his preference for bilateral trade deals, saying "I am always going to put America first."
Trump said he would not enter into large trade agreements, alluding to US involvement in the North American Free Trade Agreement and the TPP.
APEC operates by consensus and customarily issues nonbinding statements. TPP commitments would eventually be ratified and enforced by its members.
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