The U.S. and Japan agreed on a draft “Open Skies” treaty, clearing the way for carriers including United Airlines, All Nippon Airways Co., and Continental Airlines Inc. to seek antitrust immunity.

The accord outlines plans to erase government limits on flights between the two nations, including restrictions on the prices carriers can charge and markets they can serve, Japan and the U.S. said today in separate releases.

Airlines in the U.S., the world’s largest aviation market, and Japan, the third-largest, will be able to act more like a single company for pricing, scheduling and marketing global flights. The U.S. Transportation Department, which requires Open Skies agreements before it will approve antitrust immunity, said the two nations aim to sign the treaty by next October.

“We have the right partners and look forward to forming a joint venture across the Pacific with our longtime partners All Nippon Airways and Continental,” Glenn Tilton, chief executive officer of Chicago-based United Airlines parent UAL Corp., said in an e-mailed statement.