Japan and the WTO’s agreement on TRIMs and GATS

Abstract

This article argues that in the framework of the WTO, the interests of
Japan and other developed countries in general coincide with regard to
the WTO’s agreements on TRIMs and GATS, for enhancement of the
economic interests of their respective multinational corporations. Thus
it was despite considerable resistance from the developing countries
that the developed countries managed to include the TRIMs agreement
into the Uruguay Round. Japan supports the new WTO round on trade
liberalization that particularly includes expansion of multinational
investment rules in the WTO. Further expansion of services, in the
framework of GATS, is also on the broad agenda of Japan. It is in this
context argued that the corporations of the US, the EU, Canada and
Japan are the main beneficiaries of TRIMS and GATS, as they
dominate various services sectors although these agreements and their
expansion have been criticized and resisted by most of the developing
countries. However, Japan is argued to be relatively less pressing for
liberalization of services as its own services sector has remained
somewhat protected.