Japan PM Abe Says OECD Needs To Push Fair Trade

Japanese Prime Minister Shinzo Abe called Tuesday on the Organization for Economic Cooperation and Development to play a key role in promoting fair international trade rules, stressing the importance of creating a new economic order based on healthy competition.

For its part, Japan will accelerate efforts to conclude multinational free trade negotiations, including a deal with the European Union and a large-scale Pacific tariff-cutting pact, Abe said in a speech at a ministerial meeting of the OECD in Paris.

“Together with nations sharing basic views, I will create a big economic zone that ensures free competition under fair rules,” Abe said.

“More countries will want to participate (in the zone), but they would have to assent to the new economic order,” Abe added, apparently in a warning to nations such as China, which are often accused of breaking international trade rules.

“The OECD has a mission to disseminate fair rules to the world,” 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