The 18th round of the Trans-Pacific Partnership free trade negotiations began Monday in Malaysia as Japan prepares to make its debut near the end of the 11-day round.
Japan’s participation will not come until July 23, when the United States, the leading economy of the TPP, completes the domestic procedure of giving its Congress 90 days’ notice to start trade negotiations with Japan.
The session of the working group on market access covering tariff elimination, a crucial issue Tokyo has been seeking to negotiate, is expected to finish before Japan gets to the negotiation table after a four-month wait since announcing its intention to participate in the talks.
But July 25, the last day of the round in the Malaysian resort of Kota Kinabalu, will be devoted to Japan, with top negotiators of other TPP countries giving the country updates on the status of the negotiations that have entered their fourth year, likely giving Japan a chance to state its position.
With Japan’s participation, TPP countries would account for nearly 40 percent of global GDP and about one-third of all world trade, even without China as a member.
Japan is aiming to retain its tariffs on key farm products such as rice and beef, while eliminating import duties imposed on Japanese automobiles and other manufactured goods.
The TPP negotiations comprise 21 working groups on 29 chapters including investment and government procurement.
via Mainichi 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.