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ECONOMY > Trade

CPTPP legislation clears Diet

  • June 29, 2018
  • , Nikkei digital
  • JMH Summary

Nikkei reported online that the House of Councillors enacted on Friday a package of legislation for acceding to the CPTPP, noting that the GOJ plans to notify New Zealand, the official depository country, of the completion of domestic procedures and to urge other members to complete their procedures quickly so as to effectuate the regional free trade pact by the end of this year. Pointing out that in approving the legislation on Thursday, an Upper House committee adopted a resolution calling for the GOJ to “dismiss categorically” any U.S. demands for trade liberalization that exceed the terms set forth in the CPTPP, the daily projected that Tokyo will enter talks with Washington on a “free, fair, and reciprocal” trade deal with firm determination not to give in to U.S. pressure.  

 

Minister for Economic and Fiscal Policy Motegi reportedly commented on the enactment by telling the press: “The TPP 11 is meant to establish new rules for the 21st century that are free and fair amid rising protectionism around the world. It is an extremely notable accomplishment for the future of Japan and the Asia-Pacific region….. Japan will continue to play a leading role to boost momentum for early effectuation.”  

 

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