Executives' Comments  Press Conferences   Chairman Sakakibara's Statements and Comments
at His Press Conference

April 20, 2015

TPP negotiations

It is extremely important for the stability and advancement of the global economy as a whole that the Asia-Pacific region, which is the growth center of the world, sustains economic development and achieves its maximum potential. To realize this, economic activities in the region need to develop more vigorously and smoothly. The Trans-Pacific Partnership (TPP) contributes to the further promotion of globalization and a borderless economy, and we expect an early conclusion of the negotiations.

There are two keys that have influence on the TPP negotiations. First is Trade Promotion Authority (TPA), which gives the White House so-called "fast track" authority to negotiate the trade deals. U.S. law makers have introduced a bipartisan, bicameral TPA legislation in the U.S. Congress, and we hope Congress will pass it promptly. Second is an agreement between Japan and the United States, the two largest economies among countries participating in the TPP negotiations. To narrow the gaps in negotiations, ministerial talks between Japan and the United States are underway, and we are paying close attention to them. Based on the results of the talks as well, we expect Japan and the United States to make a political commitment during the upcoming bilateral summit towards an agreement in principle on the TPP.