Taiwan advised to pursue TPP trade accord: Japanese institute
By Ted Chen , The China PostTAIPEI, Taiwan -- Nations considering joining the U.S.-led Trans-Pacific Partnership (TPP, 跨太平洋夥伴關係協定) trade pact are advised to refrain from fixating on the risks of heightened international competition faced by its domestic industries, but to rather consider the potential export benefits from the agreement, said Hiroshi Komiyama (小宮山宏), Chairman of the Mistsubishi Research Institute (三菱總合研究所) yesterday.
October 25, 2013, 12:27 am TWN
Komiyama, along with President Ma Ying-jeou, National Advisor to the President Shih Yen-shiang (施顏祥), and Bruce Cheng (鄭崇華), Honorary Chairman of the Delta Group (台達電集團) were recently invited by the Industrial Bureau (工業局) to participate at a Taiwan-Japan think tank meeting designed to explore greater collaborative opportunities in international trade.
According to reports, Asian nations have been aggressively seeking trade agreements amongst neighbors in the region. In particular, since Shinzo Abe took office as Japan's Prime Minister, goals have been set to increase the proportion of foreign trade under the umbrellas of free trade agreements from the current 19 percent to over 70 percent of overall commerce.
In addition, tremendous progress has been made in the concurrent free trade agreement talks between China, Japan and South Korea, and between Japan and the European Union.
It is vital for Japan to join the TPP, said Komiyama, who continued by asserting that new doctrines of thought are required to pave the way for new opportunities, such as abandoning the excessive fixation on the possibility of facing heightened global competition.
However, Japan's agricultural industries have since lashed out against international trade pacts, concerned that their survival may be at risk, according to reports. In response, Komiyama stated that since the Fukushima nuclear disaster, Japan's high-end agricultural offerings have taken a tremendous hit among major international clients. Japan's joining of the TPP is expected to expedite the gradual recovery of the agricultural exports, said Komiyama.