With the launch of the new U.S. administration coming next month, Japan is considering introducing a new framework for bilateral economic talks, which would include the participation of experts from the private sector.
A Foreign Ministry panel on Tuesday recommended the establishment of a Japan-U.S. economic forum -- comprised of government representatives, businesspeople, academics and nonprofit organizations from both countries -- to discuss structural reform and other policy issues.
The panel, headed by Hitoshi Tanaka, head of the ministry's Economic Affairs Bureau, said that experts should also discuss how to improve the investment environment, promote trade in services and cooperate in information technology policies.
The forum will submit its recommendation to leaders of the two countries in about a year. The panel also called for the establishment of a separate framework for regular economic talks at the government level, which will discuss World Trade Organization issues, macroeconomic policies and the global economy.