European Union - Delegation of the European Commission to Japan

On Thursday 11 November, Mr. Fernando VALENZUELA, Deputy Director-General for External Relations of the European Commission and Director-General for Economic Affairs Kenichiro SASAE of the Japanese Ministry of Foreign Affairs will co-chair the EU-Japan High-Level Meeting on Regulatory Reform.

The High-Level Meeting on Regulatory Reform is a major vehicle for economic discussions between the EU and Japan and it has succeeded in providing a non-confrontational way of achieving mutually satisfactory solutions.

Earlier this month, the EU presented the Japanese government with its Priority Proposals for Regulatory Reform. One of the key goals of this year's proposals is to create an environment more conducive to investment and the growth of new businesses. The EU has identified the issue of tax-neutral treatment for cross-border merger and acquisition activities in Japan, as well as the transparency and predictability of the investment environment as key areas for active reform.

Mr. VALENZUELA will be joined at the meeting on the EU side by Mr. Alexander SCHAUB, the European Commission's Director-General for the Internal Market. Mr. SCHAUB is expected to raise the issue of ensuring a level playing field in the financial and postal services industries, following PM Koizumi's ambitious privatisation initiative regarding Japan Post.

While persistent concerns such as government procurement practices, rules on air transport and telecommunications, healthcare-related issues, standards and better market access for agricultural products require further discussion, the EU has been satisfied by the progress made by the Japanese government on a number of issues that have been raised in previous editions of the regulatory reform proposals. This year's proposals do not raise the question of the kisha club system, because foreign journalists are now given better access to information. The liberalisation of legal practice has also seen good progress following amendments to the Foreign Lawyers Law. The EU will continue to monitor the implementation of the new arrangements, seeking in particular improvements in the way media events are announced and brought to the attention of foreign correspondents and hopes that the Regulatory Reform Dialogue can continue to build on these success stories.

Mr. VALENZUELA is also expected to draw the Japanese government's attention to some of problems encountered by European companies operating in Japan as raised in the European Business Community's 'Report on the Japanese Business Environment 2004' which will be launched on Wednesday 10 November.

A joint press conference, organised by the European Commission and the Ministry of Foreign Affairs, will be held after the meeting as follows:

Members of the media wishing to attend the press conference should register with the Press, Public and Cultural Service of the Delegation.

For further information on the European Business Community's report please contact EBC on 03-3263-6222.

For further information on the High-Level Meeting, please contact:
Etienne Reuter (Tel: 3239-0461),
Dominique Inoue (3261-0464) or
Miwako Suetsune (Tel: 3239-0430).