Japan to join Pacific trade pact talks: report

Monday, 7 November 2011 00:00 - - {{hitsCtrl.values.hits}}

TOKYO (AFP): Japanese Prime Minister Yoshihiko Noda is to announce the country will join negotiations on a trans-Pacific trade agreement despite strong opposition from farmers, a report said Sunday.

Noda will make the announcement on Thursday, days before an Asia-Pacific summit in Hawaii where he hopes to join in US-led talks towards forming a Trans-Pacific Partnership (TPP) trade framework, the Yomiuri daily reported.

So far the pact negotiations involve the US, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Sing-apore and Vietnam, and Japan would be the second-largest economy in the future TPP if it joined. But Japan’s Central Union of Agricultural Cooperatives has campaigned vigorously against participation, saying a deal would reduce food security in a country where farmers -- especially of rice -- enjoy generous government protection, at the cost of high prices for consumers. Even Noda’s ruling Democratic Party of Japan (DPJ) is deeply divided over the issue, with some senior members including former farm minister Masahiko Yamada openly against joining the trade agreement.

Noda has said that he will nonetheless have to make a “political decision” at some point. The countries involved hope to announce a framework for a deal at a two-day Asia-Pacific Economic Co-operation summit starting Saturday.