Japan must adopt a multilayered approach to its trade policy to cope with the ever-accelerating globalization of world economies through greater regional integration, according to the 2000 White Paper on International Trade released Tuesday.
In the annual report, presented to the Cabinet at their Tuesday meeting by International Trade and Industry Minister Takashi Fukaya, Japan was also urged to revitalize its economy through structural reforms and increased foreign investment.
Although the nation's basic policy is to strengthen multilateral trade centering on the World Trade Organization, the nation needs to blend that policy with regional efforts, such as the Asia-Pacific Economic Cooperation forum and bilateral trade ties, to cope with the diversity and pace of change in the global economy, it says.