ISDS Case Map
Japan
For New Delhi, though, RCEP is first and foremost an economic deal that could hurt its more vulnerable industries and lead to near-term pain.
Top trade officials from South Korea, China and Japan agreed to accelerate their trilateral free trade talks and ramp up efforts to conclude a mega Asia-Pacific trade deal.
Whereas Japan took the lead to establish the TPP without the United States, Tokyo does not desire a RCEP without India because it would create a China-led trading bloc.
A news report on the current cooperation of China, Japan and the ROK in tackling the issue of unbalanced regional development.
Among the FTAs which have affected Indian domestic industry adversely, the India-Korea CEPA, signed in 2009, has been significant.
Despite India’s decision to walk out of the ASEAN-led 15-nation RCEP Free Trade Agreement last month, officials from India’s Indo-Pacific partners Australia and Japan are still discussing the issue in the hope that the government will rethink the decision.
The Japanese government will also be worried about a sluggish economy and there will be no appetite for liberalization measures that impose pain on Japanese businesses.
The United States and Japan will begin consultations early 2020 in order to enter into negotiations on a broader trade agreement.
The Japan-US trade agreement designed to reduce or eliminate a broad range of import tariffs was approved by majority vote of the ruling Liberal Democratic Party and others in the upper house of the Diet.
Japan may refrain from signing an India-less Regional Comprehensive Economic Partnership (RCEP).
