Cooperation needed for securing Japan's imports of refined products from neighbors

As of April 1996, Japan repealed the Provisional Law on Importation of Specified Petroleum Products (Plispp), thus further freeing imports from regulation. Since the dawn of the 1990s, Asia has suffered an imbalance of soaring oil demand and lack of refining capacity. In addition, to intraregional trade, product imports from outside the region, such as the US West Coast and the Mediterranean Sea, have expanded. Given such conditions in Asia, as well as japan's stringent product specifications for environmental reasons, potential exporters of the three specified products (gasoline, diesel, and kerosene) in Asia should virtually be limited to the Republic of Korea (ROK), Taiwan, and Singapore. This study is designed to make an in-depth examination of the current and future supply/demand and trade for refined products of the three countries with respect to Japan's potential import needs