In particular, it's important to monitor anti-dumping and other trade remedies to ensure that they are not used in protectionist ways. It's also important to promote negotiations concerning the liberalization of service trade as a part of the new round. In some quarters of society, concerns have been raised about the effects that rapid globalization and IT have on the lives of ordinary citizens. Working with the government, the business communities in both Japan and the US must work to ensure a broad understanding of the benefits that come with free trade and expanded IT use. Influenced by this global trend, Japan has also begun to consider entering into free trade agreements in conformity with WTO rules.
Studies are already under way with Singapore, South Korea, Mexico, and other countries.
We in Japan's industrial sector hope that these efforts will be actively continued in a timely manner. As I have indicated, trends such as the globalization of the world economy and the IT revolution are occurring with tremendous speed on an unprecedented scale. I believe it is highly meaningful for business people from both Japan and the US to engage in a frank exchange of opinion regarding these and other concerns and encapsulate their conclusion in a joint declaration. In closing, let me express the hope that the next two days of discussion will yield fruitful results.