November 16, 2020

Chairman’s Comment on the Regional Comprehensive Economic Partnership (RCEP)
TOYODA Akio, Chairman
Japan Automobile Manufacturers Association, Inc.

The Japan Automobile Manufacturers Association (JAMA) welcomes the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement by the 15 contracting countries. We take this opportunity to express our great respect for the efforts made by the Japanese government in the negotiation and conclusion of the agreement.

For the Japanese automotive industry, which operates on a global scale, the RCEP agreement systematically supports the creation of an advanced value chain in the Asia-Pacific region.  It is also of great significance that common rules concerning the liberalization of trade and investment as well as the protection of both intellectual property rights and investment have been established in the 15 countries concerned.

This is the first signing by Japan of a free trade agreement that includes China and South Korea, and we hope that the Partnership will continue to promote the expansion and strengthening of supply chains in the region including, in the future, India. We furthermore hope that the ongoing liberalization of global trade and investment will advance economic and social development throughout the world’s regions.