Abe-Nomics To Play A Role In Development Of World Economy, Says Japanese PM

Abe-Nomics To Play A Role In Development Of World Economy, Says Japanese PM

Japanese Prime Minister Shinzo Abe pledged for greater involvement of his country in ensuring global and regional security and diplomacy through trade and commerce. He spoke in reference to the Trans-Pacific Partnership, a free trade deal between Japan and 10 other countries including the United States.

The two nations are all set to come together to promote trade and commerce in the region. The agreement is to open up opportunities for exporters in all the 10 nations involved in the treaty. The deal is being met with opposition in the US Congress where Democrats are against certain clauses of the proposed deal. US President Barack Obama made a bid for the deal when he said the deal has the potential to increase employment opportunities in the Pacific Rim countries. Moreover, it is going to boost the environmental standards of the region too.

 There are some hurdles before the deal can see the light of the day. The Japanese have erected barriers making it difficult for the US to access their popular automotive market. Reluctance to bring down the barriers has made progress on the deal a slow issue. Obama said he wants to see the Japanese potential for marketing of American cars.

The visit assumes significance as it is 70 years since the conclusion of World War II. In his address to the Congress, Abe pointed out the Japnese policy of staying out of internal matters of nations. He condoled the death of American citizens in World War II.

Abe insisted on a greater role of his country in world security just as he has managed to initiate a revolution in Japan through his "Abe-nomics".

 

 

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