Enhanced Initiative on Deregulation and Competition Policy (1997–2001)
U.S. Agencies
U.S. Trade Representative
Department of Commerce
Department of the Treasury
Department of State
Department of Justice
Japan Agencies
Ministry of Foreign Affairs
Ministry of Posts and Telecommunications
Ministry of Health and Welfare
Ministry of Finance
Ministry of International Trade and Industry
Ministry of Transport
Meeting Frequency
High-level meetings were held once a year. Working-level meetings were ad hoc.
Context
- Announced in 1997 as an added component of the U.S.-Japan Framework for a New Economic Partnership.
- Working groups focusing on areas such as telecommunications, energy, housing, pharmaceuticals, financial services, and competition policy.
Goals
- To improve market access for foreign firms in Japan through more detailed and sector-specific efforts than previous initiatives.
Significance
Japan undertook a series of deregulation measures that were prompted by these negotiations, such as abolishing its Large-Scale Retail Store Law and easing the process for getting new medications approved in Japan. This was replaced in 2001 by the Regulatory Reform and Competition Policy Initiative as part of the then-newly established U.S.-Japan Economic Partnership for Growth.