(Sankei: October 16, 2015 – p. 11)
The TPP measures headquarters of the Ministry of Economy, Trade and Industry (METI) is studying ways to strengthen the export industries in Japan in light of the basic TPP agreement held its first meeting on Oct. 15.
With the tariff on 99.9% of exports of industrial products to the 11 TPP nations expected to be abolished, METI plans to assist second-tier companies and small and mid-size enterprises in their efforts to exploit overseas markets and develop new technologies.
Minister Motoo Hayashi instructed METI to strengthen its support measures at the meeting. He said: “The elimination of tariff will be favorable for expanding exports. It is METI’s job to offer support. We must work on this with the regional Bureaus of Economy, Trade and Industry and the Japan External Trade Organization (JETRO).”
METI plans to hold a total of 100 briefings in all prefectures from now on. It will also hold briefings for Japanese companies in the TPP nations, such as Malaysia and Vietnam.
Furthermore, the ministry plans to set up shortly consultation offices on how to take advantage of the TPP accord. It will also support research and development of superior products marketable in overseas markets.