Economic ministers from Japan and the Association of Southeast Asian Nations have agreed to reach an agreement on the liberalization of investment before December.

Japan's Economy, Trade and Industry Minister Toshimitsu Motegi attended the meeting of economic ministers from 10 ASEAN nations in Brunei on Tuesday.

The ministers exchanged views on the deregulation of foreign investment and the transparency of the approval process.

The leaders of Japan and ASEAN will meet in Tokyo in December to celebrate the 40th anniversary of Japan-ASEAN friendship and cooperation.

Japan and emerging economies have different views on liberalizing investment.

Japan is seeking full-scale liberalization, but the ASEAN nations want to have some safeguards.

Motegi told reporters the ASEAN nations understand that many Japanese firms want to increase their investment, and Japan and ASEAN have agreed to strengthen their cooperation.

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This news was published on August 20, 2013.

Source: http://www3.nhk.or.jp/nhkworld/english/news/20130821_05.html