Japan’s Abe Pledges Further Cooperation with Latin America

Prime Minister Shinzo Abe expressed his eagerness Saturday to boost Japan’s economic and trade ties with the four Latin American nations comprising the Pacific Alliance, after seeking an early conclusion of a free trade agreement with Colombia.

“Let’s strengthen economic relations between Japan and Latin America further,” Abe said in a speech in Sao Paulo, emphasizing Japan’s FTA with Colombia would complete its trade network with all countries participating in the Pacific Alliance.

The alliance — an economic cooperation forum among Chile, Colombia, Mexico and Peru — was launched in June 2012. Japan has observer status with the group, which it sees as having potential as a supplier of natural resources and foodstuffs.

Tokyo already has FTAs in place with Chile, Mexico and Peru. Japan and Colombia began FTA talks in December 2012, but have failed to narrow their differences over removing or reducing tariffs.

Abe, meanwhile, pledged in the speech to make every effort to steadily implement measures listed in his government’s economic growth strategy revised in June, centering on deregulation in the nation’s traditionally protected sectors.

“We have continued fearlessly to reform the agricultural, healthcare and energy industries,” Abe said.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza