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http://www.japantimes.co.jp/news/2013/03/16/business/abe-declares-japan-will-join-tpp-free-trade-process/#.UURgpu1qP8s
TPP foe: A protester holds a sign reading 'We oppose Japan's participation in the TPP talks' during a Thursday rally in Tokyo against the Trans-Pacific Partnership accord. | AP
After taking time to lay the groundwork amid pressure from lobby groups and lawmakers from rural constituencies, Prime Minister Shinzo Abe formally announced Friday that Japan will join the Trans-Pacific Partnership free-trade talks.
Abe’s government also unveiled its estimate of the possible economic impacts of joining the trade initiative, showing Japan’s participation would drive up its gross domestic product by 0.66 percent, or around ¥3.2 trillion, but that production in the farm, fishery and forestry sectors could decrease by ¥3 trillion annually if all tariffs are abolished unconditionally.
“The TPP is turning the Pacific Ocean into an inland sea and a huge economic zone,” Abe told reporters at his office.
As 11 member countries have already spent the last three years deciding rules to free up trade, services and investment in the Pacific Rim, Japan needs to actively engage in the talks to make them as advantageous as possible for the country, Abe said.
TPP foe: A protester holds a sign reading 'We oppose Japan's participation in the TPP talks' during a Thursday rally in Tokyo against the Trans-Pacific Partnership accord. | AP
After taking time to lay the groundwork amid pressure from lobby groups and lawmakers from rural constituencies, Prime Minister Shinzo Abe formally announced Friday that Japan will join the Trans-Pacific Partnership free-trade talks.
Abe’s government also unveiled its estimate of the possible economic impacts of joining the trade initiative, showing Japan’s participation would drive up its gross domestic product by 0.66 percent, or around ¥3.2 trillion, but that production in the farm, fishery and forestry sectors could decrease by ¥3 trillion annually if all tariffs are abolished unconditionally.
“The TPP is turning the Pacific Ocean into an inland sea and a huge economic zone,” Abe told reporters at his office.
As 11 member countries have already spent the last three years deciding rules to free up trade, services and investment in the Pacific Rim, Japan needs to actively engage in the talks to make them as advantageous as possible for the country, Abe said.
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