Executives' Comments Press Conferences Chairman Yonekura's Comments at His Press Conference
The Japan-US negotiations over the TPP have reached a crucial stage. It is true that the two countries still face very difficult hurdles to conquer, but based upon the outcome of the recent ministerial talks, Prime Minister Abe and President Obama are anticipated to make bigger political decisions considering the bright future of the Asia-Pacific region. I firmly believe that mutual concessions made by the two allied nations will bring an early conclusion of the overall TPP negotiations.
The TPP will be a milestone for building the Free Trade Area of the Asia-Pacific (FTAAP) no later than 2020. The TPP as well as the Regional Comprehensive Economic Partnership (RCEP) and the Japan-China-Republic of Korea FTA will form the FTAAP. The business communities in the Asia-Pacific region are all desperately in need of more advanced value chain in their field of activities. It is therefore necessary to make cross border rules and frameworks which correspond to the reality of the 21st century world. High-level market access and intellectual property protection should never be ignored in the process.