TPP Seen as Boon to Japanese Food Exports

Tokyo, Oct. 7 (Jiji Press)--The newly concluded Trans-Pacific Partnership trade deal will be a boon for Japanese efforts to expand exports of agricultural products and foods. Under the TPP, the United States will lower its 26.4 pct tariff on Japanese beef gradually before abolishing it in the 15th year. During the same period, the United States will introduce a tariff-free annual import quota for Japanese beef, which will be set at 3,000 tons for the first year. Japan exported 153 tons of beef to the United States last year. Canada and Mexico will also phase out their tariffs on Japanese beef under the TPP. For trade in fisheries products, Vietnam will abolish its tariffs on Japanese yellowtail, mackerel and saury, ranging from 11 pct to 15 pct, immediately when the TPP comes into effect. The United States will also phase out its tariffs on Japanese rice and soy sauce. The United States and Canada will scrap their tariffs on Japanese sake when the TPP takes effect and other member countries will follow suit in the future. Japan's total exports of agricultural products and food totaled 611.7 billion yen last year, hitting a record high for the second straight year, and are on track to top 700 billion yen this year. The government has set a goal of boosting the annual figure to one trillion yen by 2020. An official at a Japanese food exporting company said tariff reductions under the TPP alone are not enough to increase exports, noting that tariffs are only one form of trade barrier. Another major obstacle is import restrictions imposed overseas on Japanese foods following the March 2011 reactor meltdown at Tokyo Electric Power Co.'s <9501> Fukushima No. 1 nuclear plant. The lifting of these restrictions is essential for expanding Japanese exports, critics say. END