The United States Grains Council announced it supports the announcement by the office of U.S. Trade Representative Demetrios Marantis of its completion of bilateral negotiations with Japan regarding the Trans-Pacific Partnership. With the announcement, the council will formally notify Congress of its intent to support formal inclusion of Japan into the partnership negotiations.
The council has enjoyed more than 50 years of cooperation and relationships working to innovate the Japanese feed, livestock and starch industries. Japan is the number one customer of U.S. corn exports.
The Trans-Pacific Partnership is a regional trade agreement that seeks to create a "new millennium model for trade." As the world's third largest economy, the addition of Japan will provide the platform for a Free Trade Area of Asia Pacific and will strengthen the council's economic and strategic relationship, according to the council. The partnership will also provide opportunities for free and fair trade.
The Trans-Pacific Partnership objective of removing tariff and non-tariff barriers will require adjustments both in the U.S. and Japanese agricultural sectors. The council plans to continue the long-standing dialogue and cooperation as the Trans-Pacific Partnership negotiations evolve, particularly as the Japanese feed, livestock and starch sectors adjust to the present and future realities of supply, demand and trade.
The council said it believes that Japan is well-positioned to not only remain a strong customer of the U.S. feed grains industry, but that it will have enormous opportunities to meet future Asian consumer-driven demand for high value and quality food.