Morning:
14°c
Mandelson praises Japan’s new ‘internationalist’ leaders
06.10.09
Lord Mandelson today urged Japan to ease restrictions on foreign investment and expressed hope in the new government's “internationalist stance”.
On a three-day visit to Tokyo, the Business Secretary said Japanese regulatory reform is key to the improved economic co-operation needed to strengthen the UK and Japan after the recession.
Mandelson praised Japan's new Prime Minister Yukio Hatoyama, for his “willingness to challenge old thoughts”.
Hatoyama's Democratic Party of Japan unseated the conservative Liberal Democrats in elections this summer.
“The worst thing we can do is to take our relationship for granted,” said Mandelson. “I have confidence that the new Japanese government will not allow that to happen.”
Last year Mandelson, then the European Union's trade commissioner, described Japan as “the most closed investment market in the developed world”. He accused the country of taking advantage of opportunities overseas without offering the world similar access at home.
