[Provisional Translation]

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

At the meeting, the cabinet decision on July 11 to assign the TPP Task Force to develop comprehensive policy responses to the Japan-European Union Economic Partnership Agreement, an approval of basic guidelines on comprehensive policy responses based on the agreement in principle on the Japan-EU EPA, and a report on an overview of the outcomes of a senior officials’ meeting on the TPP were discussed.

Based on the discussion, the Prime Minister said,

“Japan and the EU have reached an agreement in principle on the Japan-EU EPA amidst the current global trend towards protectionism, and have demonstrated strong political will to raise high the flag of free trade. The EPA covers a vast economic sphere accounting for over 600 million people and 30% of global GDP. This will start a new engine for Abenomics.

I want the Japan-EU EPA to truly and directly contribute to economic growth in Japan. The EU market will become tremendously attractive for mid-sized companies and small- to medium-sized enterprises (SMEs) in the regions. We will offer supports to help companies expand overseas and strengthen their competitiveness.

At the same time, we will give due consideration to the concerns of the people who will be affected by this EPA, and make maximum efforts to alleviate those concerns. We will explain to them the content of the agreement precisely and carefully.

As for the agriculture, forestry and fishery industries, we will transform the ‘defensive industries’ into ‘industries on the offensive.’ We will take steps to ensure that ambitious producers can feel secure about continuing their production activities, and to inspire young people to participate. We will take all possible measures to achieve this.

Full-fledged discussions started on measures for the early entry into force of the TPP this week at the meeting in Hakone. We will collaborate closely with other countries and continue to advance discussions with a sense of urgency toward the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in November.
 
Both the Japan-EU EPA and the TPP are the keys to our growth strategy. The Government will work as one to establish comprehensive policies.

Based on the basic guidelines that were approved today, I would like Cabinet members to fully demonstrate leadership and consider effective and efficient measures. I intend to lead the way in undertaking efforts too.”