NAGOYA, Japan (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the U.S. and Japanese economies would miss out on huge benefits if the TPP trade pact, which aims to create one of the world's biggest free-trade zones, were to fail.


"The Trans-Pacific Partnership is a landmark deal and, if signed, would be a huge positive for Japan's economy," Kuroda told a news conference after meeting with business leaders in the central Japan city of Nagoya.


"If TPP doesn't go through, it means what would have been potentially huge merits would be lost," he said.


Kuroda added that while financial markets appeared to be welcoming the victory of Republican Donald Trump in the U.S. presidential election, he was closely watching how his economic policies could affect Japan.


(Reporting by Leika Kihara; Editing by Chris Gallagher)