The followings are major statements of Mr. Takashi Imai, Chairman of Keidanren, at a press conference on December 13, 1999. (tentative translation)
The Bank of Japan's "tankan" survey (of business sentiment released December 13) clearly showed that the Japanese economy is now on the recovery track. I, however, still concern the current economic situation because the recent recovery is heavily dependent on foreign demand and public works. The current dollar-yen exchange rate($1= ¥102) casts a damper on Japan's economic recovery.
The consolidated tax system should take effect in FY2001. The Japanese government should make further efforts to advance relevant preparation for its introduction.
The unfortunate result of the WTO ministerial meeting in Settle could not change the significance of the multilateral free trade system. It is my sincere hope that the negotiations will resume after transparent and effective management of the new round will be immediately established.