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 preparing for U.S.’s proposal on bilateral trade negotiations, since U.S. President Donald Trump decided to abandon the TPP free trade deal.
U.S. President Trump has sent a signal that his administration will invite other countries to negotiate bilateral free trade agreements by withdrawing U.S. from the multinational trade agreement of TPP.
It is expected that the new organization will take leadership in trade talks with nations other than U.S. such as TPP’s member countries.