The Huge Asia-Pacific Market Comes of Age: Japanese and US Strategies and APEC’s Twentieth Anniversary

� The APEC member economies achieved smooth economic growth with the help of exports and foreign direct investment, and they have come to occupy a very prominent position in the world. APEC’s economies are at present moving sluggishly because of the ongoing global financial crisis, but if they can manage to rebound and return to the growth track, the smooth growth they enjoyed before the crisis should resume. For that to occur, however, trade and investment must expand, assisted by liberalization and facilitation. � An agreement on the proposed Free Trade Area of the Asia-Pacific (FTAAP) would have many merits for APEC’s economies, Japan included. For this reason, Japan should actively promote the agreement’s conclusion. There is, however, an impediment standing in the way: domestic opposition to liberalization of the agricultural sector. Even so, by properly timing the introduction of liberalization and providing technical support and temporary income compensation to the people harmed by liberalization, the damage can be limited and human resources can be effectively utilized. If th