Japan’s consultations to join the Trans-Pacific
Partnership talks have gotten off to a quick start over the past few weeks,
with Mexico being the latest to confirm its support for Tokyo’s bid. Meanwhile,
the Asian economy’s discussions with the US are also said to be advancing
rapidly, as Washington officials urge another regional powerhouse - South Korea
- to consider pursuing entry into the talks.
In advance of the high-level meeting in Tokyo, the
Mexican president noted that Japan must aim to match TPP members’ goal for a
“high level” of trade liberalisation.
Abe made headlines last month when he announced that
Tokyo would be formally pursuing a seat at the TPP negotiating table, a goal
that his two predecessors had also aimed for but were ultimately forced to
abandon due to domestic political considerations. Japan would - if accepted
into the group - be the second largest economy in the talks, surpassed only by
the US.
The Japanese leader’s decision came after Abe received
assurances from US President Barack Obama that Tokyo would not be required to
make unilateral tariff cuts as a condition of joining the trade talks, and that
there might be room for treatment of some sensitive products, like agriculture
for Japan and automobiles for the US. The news was seen as essential for the
Japanese Prime Minister to receive the necessary political backing in Tokyo to
move forward with pursuing TPP entry.
Mexico is one of the most recent members to join the TPP
negotiations, having formally been invited into the talks in June of last year,
together with Canada. The Latin American country already has its own trade deal
in place with Japan, though market access for agricultural products - such as
pork and orange juice - remains a sensitive topic between the two sides. Tokyo
is well-known for its high agricultural tariffs, an issue that is expected to
take centre stage in any TPP-related negotiations.
All current TPP members must agree to the entry of any
new country into the negotiations, and conduct their own domestic procedures as
well. The US, for instance, must formally notify Congress and allow for a
90-day period to pass before it can sign off on extending an invite to Japan.
Notably, consultations with Washington - seen as particularly
vital by trade observers for Tokyo securing entry into the discussions - are
moving along swiftly, Japanese economic revitalisation
minister Akira Amari has said. Bilateral preparatory
discussions could be done as early as this week, according to Japanese media
reports.