Asean and Japan focusing on curbing protectionism
THE Asean Economic Ministers and key Japanese government officials have tackled the need to further limit protectionism in their respective countries in a meeting held in Tokyo last week, according to Trade and Industry Secretary Ramon Lopez in a Viber message to reporters, noting that the matter of protectionism remained as tendencies and not actual policies due to fear of repercussions.
Lopez is in Japan this week with other Asean Economic Ministers (AEM) for the AEM roadshow. In a statement, he said the ministers had met with Japanese Prime Minister Shinzo Abe and Minister of Economy, Trade and Industry Hiroshige Seko.
“We discussed adherence to continuing globalisation and freer trade, limiting protectionism moves, a high quality Regional Comprehensive Economic Partnership (RCEP), encouraging innovation and inclusive growth and development of MSMEs,” he said in a text message.
Asked to clarify how they would limit protectionism, he said discussions were general in nature, noting that they had talked about tendencies for limiting trade since there were no actual policies in place.
“Assessment is it may not really happen given the repercussions,” he said.
