Govt Adopts Bills for Revised TPP

March 27, 2018

Tokyo- The Japanese government at a cabinet meeting Tuesday adopted a bill to ratify the revised Trans-Pacific Partnership and other bills related to the multilateral free trade pact, which excludes the United States.

The government hopes to have the bills enacted during the current regular session of the Diet, Japan's parliamentary, through June 20.

But it remains unclear whether deliberations on the bills will proceed smoothly at a time when the government is saddled with problems, including the Finance Ministry's manipulation of documents related to the controversial huge discount sale of a state land lot to school operator Moritomo Gakuen.

Japan and 10 other countries signed the new TPP at a meeting in the Chilean capital of Santiago on March 8, after the United States withdrew from the original 12-nation TPP in early 2017.

Following the U.S. pullout, conditions for the effectuation of the pact were eased, while 22 measures in the field of trade and investment rules, including on intellectual property protection, have been suspended.

The new deal will come into effect 60 days after a sixth member country completes domestic ratification procedures.

By finishing such procedures ahead of other member countries, Japan hopes to build momentum for an early effectuation of the new TPP, informed sources said.

The 11 countries hope that the new TPP will keep a check on protectionist moves by the administration of U.S. President Donald Trump, according to the sources. Jiji Press