Liberalization of Japanese Trade within Japan Abenomics Programs

Abstract

In XXI century in Asian-Pacific region processes of integration were activated which influenced the international trade strategy of Japan. The strategy includes Japan’s intensive involving into international integration processes, specifically in Asian-Pacific region , signing free trade agreements. Therefore, Japan develops economic partnership with the countries of Asian-Pacific region which are not typical in terms of traditional historic partnerships, for instance with ASEAN members - Laos, Cambodia, Myanmar and Vietnam. Moreover, Japan strengthens ties with India and Australia as one of the biggest economies in the region by signing EPAs. Another significant step in regional trade liberalization was signing Trans-Pacific Partner future of TPP is blurred due to uncertainty after president’s elections in the USA. In Latin America Japan revitalizes its partnerships with such vast economies as Brazil, Chili, Peru. In terms of foreign economic strategy Japan is interested in providing its energy security consequently Russia gains a role of a trade partner and attracts Japanese investments primarily in energy projects in Russian Far East. Despite good results within launching and signing trade agreements the overall result doesn’t influence effectively Japan’ s presence in different markets and still in some regions cannot compete with Chinese and Korean companies firstly due to stagnation of national economy since the financial crisis in 90ies XX century and nuclear disaster in Fukishima-1.

Keywords

• world economy
• trade liberalization
• japan
• crisis
• free trade agreement
• crisis