Japan's Lower House passes TPP bills

Japan's Lower House of the Diet has passed bills on the Trans-Pacific Partnership. A majority voted on Thursday to approve the measures on the free-trade agreement. The governing coalition of the Liberal Democratic Party and Komeito backed the bills. The opposition Nippon Ishin Japan Innovation Party also gave support. But the opposition Democratic Party, Liberal Party and Social Democratic Party boycotted the vote. The Japanese Communist Party voted against the proposed legislation. The TPP calls for Japan to scrap tariffs in phases on 95 percent of its imports such as agricultural products and industrial goods. The pact also stipulates a wide range of trade and investment rules, including protection of intellectual property rights and settlement of investment disputes. A related bill calls for the government to expand a framework to cover losses incurred by cattle and pig farmers after the TPP goes into effect. The bills have been sent to the Upper House for final approval. The governing coalition wants to pass them into law before the current Diet session ends on November 30. But the opposition parties are demanding in-depth discussions and aim to have the proposed legislation scrapped.