Amendments to NTT Law cited as deregulatory progress in Japan.
Japan and the United States on Monday announced a joint report on progress in deregulation, citing legal changes aimed at promoting competition in Japan's telecom market long dominated by Nippon Telegraph and Telephone Corp. (NTT).
Among other matters, the report addressed amendments to the NTT Law, the Telecommunications Business Law and related laws. The amendments passed the Diet on June 15.
The report also noted Japan's concern about U.S. legislation, known as the Byrd Amendment, which would take antidumping and countervailing duties collected by the U.S. Customs Service and give them to private companies that brought antidumping petitions.
Japan has said the amendment violates rules set by the World Trade Organization.
''The government of the United States will continue to exchange views with the government of Japan regarding the Byrd Amendment,'' said the report, formally called the Fourth Joint Status Report on the U.S.-Japan Enhanced Initiative on Deregulation and Competition Policy.
The report was presented to the weekend summit between Prime Minister Junichiro Koizumi and U.S. President George W. Bush at Camp David.
The latest report is the fourth of its kind on progress in bilateral deregulation talks since 1997 when then Prime Minister Ryutaro Hashimoto and U.S. President Bill Clinton agreed to launch bilateral deregulation talks.
The report also pointed to Japan's concern about the Exon-Florio Amendment to the Defense Production Act of 1950, which provides that all mergers, acquisitions and takeovers that could result in foreign control of U.S. corporations are subject to possible governmental investigation and Presidential action if they are deemed to present a threat to national security.
The U.S. recognizes Japan's concern for ''the Exon-Florio clause regarding, inter alia, predictability of the regulations, legal stability of completed transactions, and ensuring due process,'' the report said.
Deregulation is one of the four main topics to be dealt with under a new bilateral initiative agreed upon by Koizumi and Bush -- the U.S.-Japan Economic Partnership for Growth.
''The two governments, upon the request of either government, will meet at a mutually convenient time to address the measures contained in this report,'' the report said.
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|Date:||Jul 9, 2001|
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