S’pore welcomes Japan’s participation in TPP negotiations

SINGAPORE: Singapore’s Ministry of Foreign Affairs and Ministry of Trade and Industry have issued a joint press statement warmly welcoming Japan’s decision to participate in the Trans—Pacific Partnership (TPP) negotiations.

In the press statement, the ministries said they have consistently and strongly supported Japan’s early participation in the TPP, and added that Japan has long played a crucial role in the development of the Asia—Pacific —— and thus in maintaining its stability.

It was also noted that Japan’s participation will give the TPP even greater strategic significance. As the third largest economy in the world, Japan will be an invaluable partner in the development of a high—quality agreement which will spur economic growth across the Asia—Pacific.

Japan’s membership in the TPP will also encourage its domestic growth and help its overall economic revitalisation.

The ministries added that the conclusion of the TPP, as well as the Regional Comprehensive Economic Partnership (RCEP), will help foster the establishment of a Free Trade Area of the Asia—Pacific (FTAAP).

Singapore looks forward to Japan joining the TPP negotiations soon.

—CNA/ac