Japan to join talks on Pacific Rim free trade zone

TOKYO — Prime Minister Yoshihiko Noda said Friday that Japan will participate in talks on joining a U.S.-backed Pacific Rim free trade zone, a decision strongly opposed by farmers who say the move will ruin them.

Noda's announcement was delayed by a day and comes after intense debate within the ruling party, which was deeply divided on the issue.

He said that joining the Trans-Pacific Partnership talks will allow Japan to tap into the region's dynamic growth.

"I believe joining the talks would serve our national interest," he told a news conference held the night before he is to leave for the annual Asia-Pacific Economic Cooperation summit in Hawaii.

Big exporters say that joining the trade bloc would allow them greater access to foreign markets, promote regional investment and keep Japan competitive.

But heavily subsidized farmers worry that slashing tariffs on rice and other agricultural goods would drive them out of business.

The U.S., Australia, Malaysia, Vietnam and Peru are currently negotiating to join the bloc, which already brings together the smaller economies of Chile, New Zealand, Brunei and Singapore.

Noda had said he wanted to make a decision on whether to join the bloc before the APEC summit, where President Barack Obama will host 20 other regional leaders.

Some APEC members see the Trans-Pacific Partnership as a building block for a free trade area encompassing all of Asia and the Pacific that would comprise half the world's commerce and two-fifths of its trade.