US calls for more transparency in Japan's postal privatization

0 Comments | AFP, June, 2007

WASHINGTON (AFP) — The United States Wednesday applauded Japan's progress in economic reform but raised concern about the transparency of the privatization of Japan Post, the giant postal service that also provides banking and insurance services.

US Trade Representative (USTR) Susan Schwab said the new measures undertaken by Prime Minister Shinzo Abe's government would help further open markets, encourage new business opportunities and stimulate competition.

"We welcome Prime Minster Abes clear commitment to promoting economic reform in Japan. Regulatory reforms taken in recent years have contributed significantly to Japans overall economic growth," she said in a statement.

Schwab's comment accompanied the USTR publication of the sixth annual joint report...