Japan delays decision to join TTP talks

TOKYO, Nov. 10 (UPI) -- The Japanese government has postponed a decision on whether to enter the talks on a Pacific free trade agreement, a spokesman said.

Chief Cabinet Secretary Osamu Fujimura told reporters Prime Minister Yoshihiko Noda was heeding calls for caution from his ruling party in putting off the decision from Thursday to Friday, Kyodo News reported.

It had been reported Noda was likely to announce his government's decision Thursday to join the negotiations on the U.S.-supported Trans-Pacific Partnership agreement as a way to spur the country's economic recovery.

Even though Noda supports the TPP, the issue has raised concerns even among lawmakers within his own party. Experts, however, told Kyodo Noda was not expected to change his mind.

The Japanese farm industry is concerned TPP tariff-cutting steps would allow cheaper foreign products to flood the country and make it difficult for its government to set exceptions for its rice and dairy products, as has been done in previous free trade agreements.

The Japanese business community, however, is in favor of the pact as it would help increase exports of Japanese auto and electrical machinery companies.

''Please give me one day to think,'' Noda was quoted as telling a meeting of senior government and party officials, Kyodo reported.

The report said the government wants to reach a decision before the weekend summit of the Asia-Pacific Economic Cooperation summit in Hawaii.

The TPP currently includes the United States, Australia, New Zealand, Brunei, Chile, Malaysia, Peru, Singapore and Vietnam. The TTP effort comes as the Doha round of global talks remains stalled.

U.S. Trade Representative Ron Kirk had said last month a broad outline on the TTP could be reached by the APEC summit. The talks are under way in Lima.

The TTP include the United States, Australia, New Zealand, Brunei, Chile, Malaysia, Peru, Singapore and Vietnam. The TTP effort comes as the Doha round of global talks remains stalled.

TTP negotiating countries want to forge a high-level free trade agreement and do away with all tariffs.

"The American economy needs TPP for its jobs-and growth-generating potential" and to "inject new important ideas into global trade policy," Kirk had been quoted as saying.