Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

REPORTER: There are reports that Japan is coordinating with the oil industry to significantly cut its crude oil imports from Iran. Can you verify the facts? Also, what is Japan's policy on future crude oil imports from Iran?

CHIEF CABINET SECRETARY FUJIMURA: In regards to the National Defense Authorization Act (NDAA) of the United States (U.S.), Japan's concerns about its impact on the economy and the world economy as a whole have already been expressed to the U.S. side, also during the end-of-year talks between the Minister for Foreign Affairs and the Secretary of State. And Japan will continue to closely exchange views on this matter with the U.S. side. With respect to Iranian crude oil imports, our position at this stage is to take appropriate actions as necessary while paying close attention to, among other items, the impact of the NDAA on the Japanese economy and the crude oil market. Regarding this matter, I believe, at this very hour, U.S. Treasury Secretary Timothy Geithner, who is visiting Japan, will be explaining also about the U.S. NDAA that applies U.S. sanctions against the Iranian Central Bank and other entities. I believe a meeting between him and the Prime Minister is set to take place right now. Japan expresses its concerns to the U.S. about the NDAA's impact on the Japanese economy and the entire world economy, among other concerns, and will continue to hold a close exchange of views on this matter. In any case, regarding Iranian crude oil imports, Japan intends to take actions and responses as necessary while paying close attention to, among other items, the impact on the Japanese economy and the crude oil market.

REPORTER: By "as necessary," this includes reduction of imports?

CHIEF CABINET SECRETARY FUJIMURA: If you take a close look at the framework of the U.S. NDAA, I believe a number of options can be envisioned.

REPORTER: According to some reports, I believe Japan intends to start the preliminary Trans-Pacific Partnership (TPP) consultations with three countries: Malaysia, Singapore, and Australia. Can you verify the facts and discuss the status of the current considerations with respect to the schedule?

CHIEF CABINET SECRETARY FUJIMURA: Senior Vice Minister of Cabinet Office Katsuyuki Ishida made a trip to Singapore, Malaysia, and Australia from January 8 to 11, and I believe those reports came out in light of the exchanges of views which took place between him and government officials on the TPP. Last year, it was decided that Japan will enter into consultations toward its participation (in the TPP), that is, consultations with (TPP) participating countries. It was decided that Japan will enter into consultations not only with these three countries just mentioned, but with all nine countries moving forward. These consultations will gradually be taking shape. During Senior Vice Minister Katsuyuki Ishida's trip, the three countries exchanged views with him also on the subject of Japan's dispatch of a consultation team. Following from this, I believe the dispatch of a consultation team and other matters pertaining to the three countries will be worked out through diplomatic channels going forward. The same process will follow sequentially with the rest of the countries.

(Abridged)