The Japanese government issued its assessment on the current state of the Japanese economy, stating "prices are holding firm." The Bank of Japan said "inflation expectations appear to be rising on the whole." It is believed that effects of policies to overcome deflation have begun to prevail. Further improvement in employment will have a positive impact on prices and the complete departure from deflation will be in sight.
Tokyo Olympics and Paralympics
It is extremely important to make the 2020 Olympic and Paralympic Games in Tokyo a successful event. It is essential to implement preparations steadily to avoid falling behind schedule. Participation in sports can provide a good opportunity for the people, especially young generation, to promote their health and foster friendship with other countries. From these perspectives, Keidanren has launched the Committee on Promotion of Sports.
Wrap-up of 2013
It has been a year of positive developments. Negotiations for economic partnership agreements proceeded concurrently. More precisely, the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP), a Free Trade Agreement among Japan, China and the Republic of Korea, and the Japan-EU Economic Partnership Agreement have moved to the next stage respectively. Japan attracted worldwide attention by Abenomics and Tokyo's successful bid for the 2020 Summer Olympics this year. It is great to share joy with people in our country.