Japan plans to use free-trade agreements (FTAs) to strengthen political ties and deepen diplomatic influence with other nations, especially in East Asia, news reports said yesterday.
Japan hopes to sign an FTA with South Korea and ASEAN members, the Yomiuri Shimbun and the Nihon Keizai Shimbun said.
"The plan is in line with a new diplomatic strategy drawn up by [the foreign ministry] that prioritizes such arrangements as part of efforts to step up economic cooperation in East Asia," the Nihon Keizai said.
"The government considers FTAs to be of key importance among its economic pacts and also important in safeguarding democracy and national security," the Yomiuri said, citing Japan's new guidelines for FTA strategy.
Japan has so far concluded only one FTA deal, with Singapore, because the government had focused on multilateral trade negotiations.
The agriculture ministry has also opposed FTAs, saying that such agreements might lead to a sudden increase in imports of farm products, the Nihon Keizai said. However the government believes the new guidelines on FTAs are complementary to the rules of the WTO.
Tokyo also believes that the WTO can no longer swiftly address new issues because developing nations that are reluctant to liberalize their markets have increased their influence in it.
The foreign ministry is expected to agree with Mexico to negotiate an FTA at the time of the APEC forum scheduled to be held in Mexico later this month, the Nihon Keizai said.
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