摘要：Japan¡¯s trade policy is undergoing a major shift. It is now focusing on bilateral and regional
approaches. Japan must make this shift in order to continue to be globally competitive and remain a
leader in the world economy. While the trend toward regional trading arrangements appears relatively
new for Asia, and specifically for Japan, intellectually it has been discussed for over three decades.
Kojima and like-minded colleagues began working together on this subject back in 1960s, and this led to
the formation of the Pacific Trade and Development Conference (PAFTAD). PAFTAD and other early
efforts were the precursor to APEC, the Asia-Pacific Economic Cooperation. The success of Japan¡¯s shift
toward regional integration depends on two conditions. First, Japan must implement structural
adjustments in its domestic economy, and the bilateral and regional Free Trade Areas (FTA) may actually
help bring about these adjustments. Second, the bilateral agreements entered into by Japan must work
with, not replace, the multilateral agreements already in place. This paper focuses first on the forces and
trends towards regional integration. Second, it highlights as an example, the recently concluded Japan-
Singapore Economic Partnership Agreement (JSEPA). Third, it suggests some future directions for
ASEAN integration. The paper concludes with an analysis of Japan¡¯s FTA policies, in particular, of the
implications of FTA¡¯s for Japanese domestic structural adjustment.
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