United States Trade Representative
 
October 25, 2001
 

During an informal meeting of trade ministers held in Singapore on October 14^th, Deputy U.S. Trade Representative Jon Huntsman Jr., presented to the Japanese Deputy Foreign Minister, Shotaro Oshima, wide-ranging reform recommendations designed to further deregulate the economy, bolster competition, and open markets in Japan. The United States is providing these recommendations as part of the Regulatory Reform and Competition Policy Initiative (the Regulatory Reform Initiative) that was launched under the U.S.-Japan Economic Partnership for Growth by President Bush and Prime Minister Koizumi on June 30, 2001. Both the Partnership and the Initiative were designed to establish a more constructive tone in the U.S.-Japan bilateral trade and economic relationship. The reform proposals, contained in a 47-page document, focus on key sectors and cross-cutting areas Prime Minister Koizumi and his Administration have identified as important for reform, such as information technologies, telecommunications, medical, energy and competition policy. Another important feature of the Initiative is greater integration of the private sector into the work of the two Governments to help stimulate creative solutions to the economic and trade challenges facing the United States and Japan, as well as nurture stronger business community support for pro-reform policies. Working Groups under the Regulatory Reform Initiative will begin meeting in the coming weeks. This will be followed by a deputies-level meeting early next year chaired by Ambassador Huntsman and Deputy Foreign Minister Oshima. (A summary of the reform recommendations and a detailed annex can be found on the USTR Web site at www.ustr.gov.)