On Dec. 3, the government set forth draft revisions to the “Comprehensive TPP-related Policy Framework.” The framework provides guidelines for domestic measures for the Trans-Pacific Partnership (TPP) trade pact and other international agreements. The revisions add more references to expanding the export of agricultural, forestry, and fisheries products as well as food products, and set the goal of achieving 5 trillion yen in farm exports by 2030. Japan will “accelerate the pace of [export] increase” through the action plans the government adopted at the end of November.
The revisions reflect the Japan-UK Economic Partnership (EPA) agreement reached in October and the Regional Comprehensive Economic Partnership (RCEP) signed in November by 15 nations including Japan, China, and South Korea. The government will decide whether to adopt the revisions on Dec. 8, in time for them to be incorporated in the additional economic measures. The framework was last revised a year and a half ago.
Some of the revisions concern responding to the novel coronavirus pandemic: “Digitalization and more-resilient supply chains are essential for the development of the post-pandemic global economy, and the TPP and other trade pacts will play a significant role in that.”
The revisions also mention Japan’s making efforts for the “early enforcement” of RCEP and “working for the steady rollout and expansion of the TPP.” The framework revisions further stated that Japan will “lead an effort to establish a free and fair international economic order.”