Japan Press Weekly

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2016 August 31 - September 6 [ECONOMY]

Japan should not rush for TPP ratification

The Abe government intends to move forward to obtain a parliamentary approval for the Trans-Pacific Partnership free trade pact as a key issue in the upcoming extraordinary session of the Diet. Prime Minister Abe Shinzo has proclaimed that Japan will take a lead in having the treaty go into effect as early as possible.

The free trade agreement among twelve member nations will go into force only after being ratified by six or more parties whose GDPs combined amount to more than 85% of the total. As the United States has 60.4% of the total and Japan has 17.7%, the ratification by the two nations is essential.

However, with the U.S. presidential election slated for November, it is uncertain when congressional debate on the TPP will commence. In addition, the U.S. Congress is showing signs of disapproval and is even calling for renegotiation of the pact.

Japan should not rush into the TPP ratification. In the first place, the Japanese government concluded the free trade pact in defiance of Diet resolutions. Above all, the Diet is in no condition to discuss the treaty as it has yet to be informed of the progress of negotiations and the details of the treaty. The Abe government should disclose all essential information.

Past related articles:
> Gov’t completely blacks out content of TPP documents [April 8, 2016]
> JCP Kasai: Diet should reject TPP [April 6, 2016]