United States–Japan Framework for a New Economic Partnership
United States–Japan Framework for a New Economic Partnership: concluded in July 1993 to create more avenues of entry for United States firms into Japan. Japan committed itself to address five major areas: (a) government procurement, (b) regulatory reform and competitiveness, (c) other major sectors, including cars and car parts, (d) economic harmonization, aimed at correcting macroeconomic imbalances in the Japanese market, and especially its low inflow of foreign investment, and (e) implementation of existing arrangements and measures. See also Market- Oriented Specific-Sector talks, Structural Impediments Initiative and United States–Japan financial services agreement.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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