November 10, 2001	Saturday	Shaba’an 23, 1422

TOKYO, Nov 9: The creation of a free trade zone between the United States, China and Japan would benefit the global economy, said Steve van Andel, chairman of the United States Chamber of Commerce on Friday.

“I would certainly promote the idea of a free trade agreement between Japan and the US as I would promote the idea of a free trade agreement between China, Japan and the US,” he said in response to a question posed to him at the foreign correspondents’ club in Tokyo.

“When I look at the potential for growth in China I don’t look at that as an attack or a deterrent to the US economy or the Japanese economy,” he said.

“I certainly look at that as an opportunity for all of us to grow.”

Asked about the necessity to facilitate foreign direct investment in Japan, Andel said: “Investment tends to slide where it is the easiest to go. “If business is going to see more opportunity and easier opportunity in another market and if Japan is much more difficult and is much more uncertain then the likelihood is that investment would go someplace else.”

Andel, who met with Japanese Prime Minister Junichiro Koizumi and Finance Minister Masajuro Shiokawa called on the government to “stay the course of reforms”.

He was referring to a plan by the premier to kick-start the world’s number two economy by implementing a painful reform initiative that includes reducing a mountain of bad loads held by Japanese banks and reining in national debt, which has exploded to 130 per cent of gross domestic product in recent years through wasteful spending.

The US Chamber of Commerce is the world’s largest non-profit business federation. It has been lobbying Japanese lawmakers since 1994.—AFP