As you are aware, the U.S. presidential election is scheduled for this month. Whichever candidate wins the presidency, the next U.S. administration will likely focus on the fast-growing Asia-Pacific region as the center of gravity of the country's external economic activities. Needless to say, the Trans-Pacific Partnership (TPP) will play a vital role in governing U.S trade policies in the region.

Despite this, discussion over the TPP in Japan has not reached a conclusion regarding whether or not Japan will join this regional trade agreement. In fact, the discussion has not seen much progress, if not any, even though two years have already passed since the country declared its intention to deliberate possible participation. I am afraid that if this situation continues, Japan's opportunity to proceed with TPP in successful negotiations will start to fade.

Historically, Japan has turned crises and external threats into opportunities as a way to strengthen its national power, as typified by the Meiji Restoration around 1868. While many express concerns over the TPP's adverse implications on Japan's agriculture, I believe the sector will not only survive but thrive in an international arena. We can do this by leveraging our country's wisdom, our flagship excellence in quality control systems, and many other strengths.

The success of nagaimo yams from Tokachi, Hokkaido in Taiwan and North American markets may bring some insight here. These sticky Hokkaido yams enjoy a much higher reputation than nagaimo from other countries, particularly because of the high standard of safety and reliability these products demonstrate. From what I have heard, the yams are fully traceable, and they are washed and sorted in facilities which have obtained internationally recognized food hygiene certification. This is a prime example of a transformation into an aggressive farming business based on global perspectives. Another successful case is Manotsuru, a Japanese sake brand from Sado in Niigata. The regional brand sake, created through a collaboration of the brewer and local farmers who grow the brewing rice using minimal agrichemicals, is exported to the U.S., European, and now Russian markets. The liquor delights the taste buds of consumers around the world, helps Japan's regional culture and its rice farming sector attract more attention and interest, and contributes to creating new value within Japan's rice -similar virtuous cycles can be generated in many other products and sectors.

The airline industry, which I am engaged in, is no exception. This year, three low-cost carriers, or LCCs, inaugurated operations in Japan. The business of these new carriers is flying high, which leads to the creation of new customers. As you can see, Japan has a lot of untapped assets and resources which, if cultivated wisely or innovatively, can realize their great potential for growth.

Doing nothing will not generate anything. It of course will not create new value, either. Growing a seed of development or ruining it-it all depends on us. I urge Japan to declare its participation in the TPP scheme as soon as possible and start to take aggressive measures to regain its vibrancy.