TOKYO (Reuters) - Japanese companies are wary of a 12-nation Pacific trade deal now in the works, with three-quarters not expecting their sales to benefit if an agreement is reached, a Reuters poll showed.
Only a quarter expect sales to increase if a Trans-Pacific Partnership (TPP) pact is realised, while 2 percent fear they will be negatively affected, according to the Reuters Corporate Survey released on Tuesday.
The Trans-Pacific Partnership would link a dozen Asia-Pacific economies by eliminating trade barriers and harmonising regulations, in a pact covering 40 percent of the world economy and a third of all global trade.
But talks, aimed at realising a deal this year, have been bogged down as negotiators struggle to find common ground over opening up key sectors including autos and agriculture.
Indeed, about half of Japanese firms in the survey worry a trade deal would bring about fierce competition with products and services from overseas, while a quarter are concerned about the loss of consumer information and intellectual property.
Overall, just 1 percent expect their sales would benefit to a large extent from the trade deal.
The survey of 483 companies was conducted for Reuters by Nikkei Research between March 3 and March 16.
On Sunday, chief trade negotiators wrapped up the latest talks in Hawaii having made little headway. Some blame the slow progress on a delay by U.S. lawmakers to introduce legislation that would speed trade deals through Congress.
Meanwhile, the United States and Japan are at odds over access to farm and auto markets, holding up a bilateral agreement among the two heavyweight economies that is seen as key to the broader TPP deal.