[Provisional Translation]

Prime Minister Shinzo Abe held the first meeting of the Trans-Pacific Partnership (TPP) Task Force at the Prime Minister's Office.

During the meeting, discussion took place on comprehensive policies based on the agreement in principle  on the TPP.”

Based on the discussion, the Prime Minister said,

“The TPP is the trump card of our growth strategy, one that will create an open and dynamic economy. Based on the agreement made in principle, I would like to truly and directly link the TPP to the economic revitalization of Japan and regional vitalization. The Government will work as a single entity to establish comprehensive policies. I will lead the way in these efforts.

There are great merits provided by the TPP. 99.9% of the tariffs on the 19 trillion yen of manufactured products we export to the 11 participating TPP countries will be lifted. This will offer tremendous support for the export of specialty products made by regional small- and medium-sized enterprises, such as glasses from Sabae and towels from Imabari. At the same time, price drops on imported goods are enriching the lives of consumers.

In addition to rules on tariffs, the TPP includes several other rules on such matters as investments, services, intellectual property, and e-commerce, all of which help make it smoother for companies to do business overseas. We will offer support to ensure that consumers and regional SMEs are able to enjoy the full benefits of the TPP.

At the same time, we are sympathetic to the concerns  of the public about the TPP and will work to alleviate those concerns. I intend to precisely and carefully explain the content of the agreement to the public. I would like Minister Amari to comprehensively analyze the TPP’s wide-spread economic effects.

We will transition the agriculture, forestry and fishery industries from ‘defensive industries’ to ‘industries on the offensive.’ We will take steps to ensure that ambitious agricultural producers can continue their work with peace of mind , and that these are industries in which young people aspire to work. I intend to take all possible measures to achieve this.

Building on the basic policy approved today, I request that each Cabinet member lead discussions on effective and efficient measures. Thank you.”