Japan, U.S., EU Agree on WTO Talks on Subsidy Rules

Economy

Paris, May 23 (Jiji Press)--Japan, the United States and the European Union on Thursday agreed to hold talks among key World Trade Organization members to fight market distortions by strengthening industrial subsidy rules.

The agreement was reached at a meeting in Paris of Japanese trade minister Hiroshige Seko, U.S. Trade Representative Robert Lighthizer and European Trade Commissioner Cecilia Malmstroem.

The three officials adopted a joint statement on the outcome of their discussions. The agreement apparently had in mind China's industrial subsidies.

"A strong commitment made concertedly by Japan, the United States and Europe will be a major starting point for WTO reform," Seko told reporters after the meeting.

The three officials also confirmed that their countries will work together to create a framework for the management of e-commerce data trading in cooperation with as many WTO members as possible.

[Copyright The Jiji Press, Ltd.]

Jiji Press