Japan Announces Asian Economic Strategy

Japanese Ambassador to Vietnam, Sakaba Mitsuo, on March 2, announced basic policies of the Asian economic strategy in the New Growth Strategy of Japan. The new growth strategy is expected to be completed in June 2010.

 

Targets to reach by 2020 include “Create a Free Trade Area of the Asia‐Pacific (FTAAP); Promote domestic reforms to double the flow of people, goods, and money and incorporate Asian growth; Double the income of Asia to expand growth opportunities.”

 

To realise these targets, the Asian Economic Strategy will actively promote trade and investment liberalization as the 2010 APEC host economy, and prepare a roadmap toward completion of the FTAAP agreement; Promote international adoption, together with other Asian countries, of Japanese safety standards; Have the government and private sector support efforts to build infrastructure in such areas as rail transport, water supply, and energy, and develop cities in harmony with the environment.

 

Japan is growing as a “bridge nation” to make full use of Japan’s strengths in Asian markets. In recent years, other Asian countries have realized industrial integration with Japanese firms and achieved powerful and rapid growth supported by abundant and diligent labour.

 

As an Asian country, Japan will promote the vibrant development of Asia as a whole. While acting to unify with the Asian market by expanding trading activity therein and contributing to doubling the income of Asia, Japan will generate excellent growth opportunities for Japan.

 

For Vietnam, Japan always considers Vietnam a specially important partner, particularly granting loans and technical supports in recent years and in the coming time, Mr Sakaba Mitsuo emphasised. He added the Japanese Foreign Minister will come to Vietnam to attend ASEAN Foreign Ministers Meeting held in July.