The Trans-Pacific Partnership (TPP) Agreement

On October 5, 2015, the 12 countries reached an agreement in principle on the Trans-Pacific Partnership (TPP) that will build 21st-century trade and investment rules concerning tariffs, services, investment, intellectual property, state-owned enterprises, and other areas. Going beyond the myriad bilateral FTAs and EPAs, the TPP is intended to give shape to policy relating to trade in the Asia-Pacific. Since Japan officially participated in TPP negotiations in 2013, one focus has been on an economic growth strategy that provides opportunities for small-and medium-sized enterprises to consider overseas expansion and that allows Japan to re-emerge as a major exporting country. Regionally, the TPP is expected to contribute to economic development in the Asia-Pacific as a whole at the dawn of an "Asia-Pacific Century." As the minister in charge of negotiating for Japan's national interest in the TPP, the author shares his perspective about the agreement.