Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
by Staff Writers
Geneva (AFP) Feb 21, 2013
Japan won plaudits on Thursday from fellow WTO nations for not opting for economic protectionism amid the global financial crisis and in the aftermath of its 2011 earthquake, tsunami and Fukushima nuclear disaster.
"Members commended Japan for avoiding protectionism," Pakistan's trade ambassador Shahid Bashir said as the 158-country WTO wrapped up a review of Tokyo's policies.
The World Trade Organization monitors respect for the rules of global commerce established by its member states, which submit to regular reviews.
Japan's review session was chaired by Bashir.
"Members look forward to a swift recovery of Japan's economy, which will enable it to become once again an engine for economic growth in the world economy," he said in a statement.
"Many remarked that Japan is still the third largest economy in the world and as such it plays a vital role for all WTO members," he added.
The review nonetheless flagged up concerns about certain areas of Japanese trade policy.
It highlighted the agriculture, fishing and services sectors, where foreign players face hurdles when they try to access the country's market.
"Macroeconomic policies being pursued, particularly by the new government, can help Japan to recover from the recent economic downturn, but they need to be accompanied by far-reaching structural reforms," said Bashir.
"Trade liberalisation can play a key role in these reforms, to stimulate competition and improve productivity, especially in agriculture and services," he added.
Global Trade News
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|