Participating Japan in Trans Pacific Partnership

Participating Japan in Trans Pacific Partnership Trans Pacific Partnership Mar 26, 2018 in Case Studies Introduction The proclamation of the Japanese Authority on delaying the 2011 resolution to whether to be part of the suggested Trans-Pacific Partnership Agreement (TPP) can be understood under consideration of the disaster that happened at Tohoku part of Japan. It is understandable that Japanese Government had to focus on the rebuilding of the nuclear plants. Nevertheless, the TPP members still believed that, despite the tragedy that had incapacitated Japan, it could at least make fundamental agreement with the Asia-Pacific Economic Cooperation. The Japanese participation in TPP is of immense significance for the TPP considering the economic power and the impact Japan has in the region of Asia Pacific. To this end, Japanese participation in TPP will enhance the Japan-US trade relationship by offering a platform for resolving their long standing issues related to economic competition. This participation will also involve economic giants that represent more than 36% of the world GDP in the trade re lationship in a dynamic region (Surhone). Importance of Japanese Participation in TPP The early commitment of Japan to the TPP would be a crucial short-term indication to the entire world that Japanese are open to do business. On the other hand, in the long-term, the Japanese participation in TPP would be a terrific boost to its economic development and recovery that would usher in economic reorganization in key zones making the economy be much more dynamic and make Japan an attractive investment ground. Considering the international concern on radiation pollution of Japanese products, scientific standards will offer protection against biased discrimination. Consequently, the USJBC has offered a lot of support for the Japanese participation in TPP on condition that Japan is ready to abide to the terms and condition stipulated by TPP partners. The present TPP partners have agreed to get into an agreement so as to attain the century agreement on trade that is comprehensive in coverage and scope of agriculture. The 21st century agreement is inclusive in its commitment to the standards for investment and trade liberalization that entails tariff beyond the regional barrier that tends to inhabit trade activities (Commission).