Japan wrapping up bilateral talks with 6 TPP partners

TOKYO -- Japan is on track to reach agreement with six of 11 countries with which it has been negotiating on a bilateral basis as part of the Trans-Pacific Partnership trade pact.

Japan effectively concluded talks with Malaysia, Singapore, Vietnam and Brunei, and is finalizing negotiations with Chile and Peru.

Japan is pursuing bilateral negotiations in parallel with talks for a broad agreement between a total of 12 nations seeking to join the pact.

Talks with Malaysia and Singapore faced no major obstacles, as they do not produce as much of the items Japan wants to protect, such as rice and wheat. The two already have economic partnership agreements with Japan.

Opening up Japan's rice market was once feared to be a sticking point for Vietnam, a major rice producer, but an agreement was reach to refrain from tariffs or import quotas.

Negotiations with major agricultural producers, including the U.S. and Australia, are ongoing. While the U.S. wants Japan to significantly raise its import quota for rice, Tokyo has asked Washington to abolish the 2.5% tariff on autoparts.

Japan and the U.S. will resume working-level discussions on Thursday. As Japan is not likely to reach working-level agreement with the U.S. or Australia, ministerial talks are expected in the end.

Source: Nikkei