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«AgroInvest» — News — Japan could join new Pacific trade group

Japan could join new Pacific trade group

2013-03-18 11:04:29

Japan's prime minister, Shinzo Abe, is widely tipped to announce today that his country will join negotiations for a Pacific-region free trade agreement.

Eleven countries including Australia are currently in talks to establish the Trans-Pacific Partnership, or TPP.

As a major developed economy, Japan's involvement in the agreement would be significant, but it won't be easy.

The Japanese Government is under intense domestic pressure to protect its meat, rice, sugar, wheat and dairy industries from international imports, but major export nations like Australia, the US and New Zealand want to see agricultural tariffs slashed.

Australia's Trade Minister Craig Emerson says he'd welcome Japan's involvement in principle, because it would "greatly increase the economic weight" of the TPP, but Australia "would want to have a look at the basis on which [Japan] is seeking to enter" the negotiations.


 

 

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