Japan’s Motegi vows to overcome protectionism

January 28, 2019

Tokyo--Japanese Economic and Fiscal Policy Minister Toshimitsu Motegi vowed Monday to put all his strength into overcoming challenges standing in the way of his country's economy, including protectionism.

In an economic policy speech to both chambers of the Diet, Japan's parliament, Motegi stressed that he will tackle three key tasks faced by the country's economy--social security reform, fiscal consolidation and fight against protectionist moves.

To counter protectionism, Motegi underscored the policy of prioritizing multilateral frameworks, including the 11-member Trans-Pacific Partnership free trade agreement and an economic partnership agreement between Japan and the European Union.

Japan is "required to fulfill the role of spreading free and fair rules to the world as a flag-bearer of free trade," he said.

On new bilateral trade talks with the United States, Motegi said he will work hard to serve his country's national interests in the upcoming negotiations.

For social security reform, he plans to make progress by summer this year in discussions on measures to make it easier to keep workers employed beyond the age of 65, in order to secure job opportunities for elderly people willing to work. Jiji Press