Japan is ready to take a leadership role in finalizing an Asian free trade deal by the end of the year, newly appointed trade minister Hiroshi Kajiyama said Tuesday, days after his predecessor stepped down over a gift scandal.
With the United States adopting more protectionist trade policies, completing the 16-nation Regional Comprehensive Economic Partnership, consisting of countries including Japan, China and ASEAN members, is seen as a critical driver for free trade momentum.
The negotiations for the RCEP, which would cover a third of the global economy, "is in the final stage," Kajiyama said during a group interview with the media Tuesday afternoon. A ministerial meeting on the trade deal will be held in Thailand later this week.