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Jap/Eng/Nat The great European single currency experiment starts on Friday, and dealers on the Tokyo Foreign Exchange are busy with preparations for the first day of trading. The world's markets are closed for the New Year holidays and will reopen on Monday the 4th January. Due to their time zone, traders in Asia will be the first to deal in the new currency. Traders in Japan - the worlds second largest economic power - are looking forward to the birth of the new currency. SOUNDBITE: (Japanese) "Tokyo has been always reacting against US dollars. However, from now onwards, we can react against Euro. That means that we can choose one of two currencies. It certainly widens choice, but at the same time, Japanese banks will be required to study harder. We are also concerned of the relative decline of yen status." SUPER CAPTION:Hiroyuki Fukushima, Manager, Spot Euro Yen section, Tokyo Forex Co. With the introduction of Euro, the single European currency, many in Japan expect to see the beginnings of a new economic super state - one with a GDP the same size as that of the United States. The world's third largest car maker, Toyota, is aiming high at this new target. As the domestic demand plunges sharply amidst the worst recession since the second world war, Toyota has to heavily rely on its sales from abroad. SOUNDBITE: (English) "What we would like to see is the stability of a currency rather than which way it should go and once the stability - which I believe will be achieved - is established then it'll be much easier for us to do business." SUPER CAPTION: Yoshimi Inaba, Director, Member of the Board, Europe and Africa Division, Toyota Motor Corporation The European automobile market has seen drastic restructuring. Non-European car makers without a distribution network will find it hard to become a significant player. Currently, Toyota occupies only 3% share of sales in Europe but is determined to improve its standing - deciding to invest 8-hundred and eighty-1 (m) million U-S dollars in a second European plant. SOUNDBITE: (English) "Of course Europe as a single consolidated market is the biggest in the world. So there's no doubt its one of the most important market for us and that's why we have been committing ourselves to European market by establishing a second plant and by doing a much more proper job in Europe." SUPER CAPTION:Yoshimi Inaba Individuals will also benefit from the launch of the Euro. 1999 will see the launch of the Euro travellers cheque, giving Tourists less hastle over which of the 11 old currencies to take when travelling to Europe. SOUNDBITE:(English) "The Euro travellers cheque gives them that added convenience and added benefit, obviously of allowing them now to not have the concern and worry of having to stock a variety of currency travellers cheques. Having the one traveller's cheque to allow them to conduct their spending in a variety of European destinations." SUPER CAPTION: Gordon Price, Development Manager, Thomas Cook Group Ltd. More than 1.7 (m) million Japanese tourists travel to Europe every year. And the Euro, and the Euro travellers cheque, is expected to make life much easier. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/8a469f8bdc084d754c5b30326389892f Find out more about AP Archive: http://www.aparchive.com/HowWeWork