EU urges Japan to liberalize postal services
The European Union on Thursday urged Japan to reform its huge postal service that the EU says has an unfair edge over private-sector companies, Jiji Press reported.
In high-level financial talks between the two sides, Japan gave assurances that the nation’s postal delivery, banking and insurance businesses, once privatized, would be treated as private firms, the news agency said.
Privatization of the massive post office, which manages some 355 trln yen in savings and insurance funds, is a cherished project of Prime Minister Junichiro Koizumi.
The EU also expressed objection to Tokyo’s plans to restrict the sale of prepaid mobile phone cards, which are widely used in the EU but also used by scam artists in Japan, Jiji said.
An EU statement said the two sides compared notes on Japan’s pledge to halve non-performing loans at major banks and global accounting standards.
In a separate meeting, the EU called for Japanese deregulation in transport and food safety, according to Kyodo News.
