Category Archives: TPP and FTA

【News】 WTO’s Trade Facilitation Agreement comes into force to boost annual global trade by one trillion dollars (Feb. 23, 2017)

A Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO) come into effect on February 22, when the WTO obtained acceptances of its two-thirds member countries ratifying the pact which is needed to bring the TFA into force. TFA is the first multilateral deal concluded since the establishment of WTO in 1995. WTO’s officials expect that TFA will speed up procedures of custom clearance in member countries and boost global trade by up to 1 trillion dollars or 113 trillion yen each year thanks to promotion of global value chains. WTO now wishes to emphasize importance of its role to be played as a leading proponent of global free … Continue reading

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【News】 Ministerial meeting between Japan and EU fails to break deadlock on EPA talks (Feb. 19, 2017)

Negotiations on the Economic Partnership Agreement (EPA) between Japan and the European Union (EU) have reached a deadlock. Regarding talks on farm trade, one of major agendas of the talks, EU negotiators have been continuously taking a strong attitude demanding Japan to open its market at a higher level. It is still difficult for Japan and EU to bridge the distance. Japan’s Minister for Foreign Affairs, Fumio Kishida, met his counterpart Cecilia Malmström, EU’s Commissioner for Trade, at Bonn, Germany, on February 17, when the G20 Foreign Ministers Meeting was held there. Although Minister Kishida and Commissioner Malmström confirmed their intention to make an early broad agreement on EPA, they … Continue reading

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【News】 Shinzo Abe and Donald Trump agree to open two-way talks probably this summer at Japan-U.S. summit meeting (Feb. 12, 2017)

Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump agreed in their first official meeting held at Washington, D.C. on February 11 to newly set up a bilateral framework of “an economic dialogue” to discuss trade, investment and other related issues in order to strengthen economic ties between the two countries. The two-way framework of “an economic dialogue” was proposed by Prime Minister Abe, which will be led by Japanese Deputy Prime Minister Taro Aso and U.S. Vice President Mike Pence. A list of major agendas at the bilateral economic dialogue is expected to include macro-economic policy including financial and monetary affairs, cooperation in infrastructure and energy projects, and … Continue reading

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【News】 Shinzo Abe’s administration to replace its current TPP Governmental Headquarters with new inter-ministerial organization for trade negotiations (Jan. 26, 2017)

Koichi Hagiuda, Deputy Chief Cabinet Secretary of the Japanese Government, told the press on January 25 that the Government plans to set up a new inter-ministerial organization by modifying the current system of the Governmental Headquarters for the Trans-Pacific Partnership (TPP), saying “Japan has completed domestic procedures for the TPP. We have to take various measures to promote other networks for free trade.” The cross-ministerial agency will take charge of major trade negotiations during years to come, including ongoing talks with the European Union (EU) to conclude an Economic Partnership Agreement (EPA) as early as possible. It is also supposed that an establishment of the new organization will aim at … Continue reading

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【News】 President Donald Trump makes America permanently withdraw from TPP, criticizing Japan’s “unfair” practices on auto imports and exports (Jan. 25, 2017)

U.S. President Donald Trump signed an executive order to permanently pull the United States out of the Trans-Pacific Partnership (TPP) on January 23, aiming at pursuing bilateral free trade opportunities with U.S. allies around the world. The U.S. new administration does not have any plan to renegotiate the TPP free trade pact. The TPP free trade agreement does not come into effect without U.S. engagement in this regional trade deals. U.S. President’s order announced on January 23 made it perfectly impossible to foresee when the TPP trade pact will take effect. On January 23, U.S. President Trump touched upon Japanese engagement in unfair practices on automobile trades, sending a clear … Continue reading

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