Japan and Australia are confident of securing a free trade zone for the Asia-Pacific.
The Trans-Pacific Partnership was on the agenda for a meeting between Prime Minister Tony Abbott and Japanese leader Shinzo Abe in Canberra on Tuesday.
The TPP would encompass 12 nations including Japan, Australia and the United States.
Mr Abe told reporters after the meeting the TPP talks were in their final stages.
Australia and Japan in particular were making "smooth progress" on the negotiations, he said.
However the Japanese PM said there was no specific target date for its conclusion.
Mr Abbott said the talks augered well for a successful conclusion to the agreement.
Asked whether mid-term elections in the United States could delay the pact, Mr Abbott said trade deals were always difficult to negotiate through the Congress.
But he understood the Obama administration was "deeply committed" to the TPP and there was a "general commitment" within the Republican Party to freer trade.
"We are entitled to be optimistic to get an early and successful conclusion," Mr Abbott said.
Australian trade officials believe the TPP deal can be struck by the end of 2015.
Share
