Agreement Between Australia And Japan For An Economic Partnership

December 1, 2020 admin

The signing of the Japan Australia Economic Partnership Agreement (JAEPA) in July 2014 was a monumental event in the history of bilateral relations between Australia and Japan. It promises to bring the two economies and societies even closer together and to support a new era of growth in trade in goods and services, which was previously hampered by state-imposed barriers and restrictions. The agreement came just months after a similar agreement was signed with Korea, and when negotiations for a trade agreement between Australia and China reached an advanced stage. Japan is an economic heavyweight: it is the world`s third largest economy with a value of nearly $5 trillion in 2013 and Australia`s second largest trading partner. Two-way trade between Japan and Australia totalted $70.8 billion in 2013, or more than 10% of Australia`s total trade. A number of concessions were guaranteed for Australian agricultural exporters, while Australian tariffs on electronics, white goods and cars were to be reduced. Negotiations on the agreement began under the Howard government in 2007. Abbott said: “This is the first time Japan has negotiated a comprehensive economic partnership agreement or a free trade agreement with a major economy, especially a large economy with a strong agricultural sector.” [2] Prime Minister Abe visited Australia in July to sign the Japan-Australia Economic Partnership Agreement and address the Australian Parliament. [5] The full text of the agreement, as well as useful information and fact sheets of the free trade agreement, are available on the website of the Ministry of Foreign Affairs and Trade. For any specific questions, email JapanEPA@dfat.gov.au or call the DFAT North Asia hotline on 02 6261 1888. Importers can contact the Ministry of the Interior The Australia-Japan Economic Partnership Agreement was concluded in November 2014 between Australia and Japan and came into force on January 15, 2015. [1] To explore the potential benefits of JAEPA for Australian businesses, visit the ftA tool developed by the Export Council of Australia. This site helps Australian exporters navigate quickly and easily on the basics of all Australian free trade agreements.

Businesses can look for countries and sectors to find out how free trade agreements can facilitate trade activities. With the entry into force of the Japanese Free Trade Agreement in 2015, employers will no longer have to offer jobs to indigenous peoples or prove that no one can fill vacancies until Japanese nationals eligible for 457 visas are employed. [7] Australia`s negotiations for an agreement with Japan began in 2007 under the Howard government. [2] In April 2014, Australian Prime Minister Tony Abbott led a trade delegation to Japan, South Korea and China. The three economies accounted for more than half of Australia`s two-way trade. [3] During the Japanese leg, Abbott was received by Emperor Akihito and secured the key elements of a free trade agreement with Shinzo Abe`s government. [4] JAEPA is the liberalizing bilateral trade agreement that Japan has ever entered into and gives Australian exporters, importers, investors and producers a considerable advantage over their international competitors. It will give Australian agricultural exports – many of which reside in Queensland – unprecedented market access and a competitive advantage. JAEPA is Australia`s second bilateral trade agreement with a major trading partner in North Asia, following the signing of a free trade agreement with Korea in April 2014.

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