Trade Agreements Between Australia And Japan

NOTE that changes in the global economic environment as a result of globalization, technological progress and regional integration, through the creation of free trade zones, are creating new challenges and opportunities for both countries; VU the commonwealth of Australia-Japan trade agreement and the basic treaty on friendship and cooperation between Australia and Japan; Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of market and Australian services. Opening of a dialogue between experts from IP Australia and the Japanese Patent Office on the exchange of information on the reciprocal exploitation of patent searches/test results. (a) conclude an agreement between JETRO, Invest Australia and Austrade, which provides for enhanced cooperation and communication in efforts to encourage two-way investment between Australia and Japan; (a) an overview of recent trends in bilateral trade and bilateral investment, including key features of government relations; 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. A free trade agreement is being negotiated with China. Together, these three economies account for more than half of Australia`s exports. Both countries will work on a balanced and comprehensive basis to liberalize trade and investment between Australia and Japan. 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. The Japan-Australia Economic Partnership Agreement (JAEPA) offers significant benefits to the Australian economy and facilitates business with Japan, our second largest trading partner.

The agreement will strengthen and strengthen trade between two of the largest economies in the Asia-Pacific region. (b) in particular, increased communication between JETRO, Invest Australia and Austrade regarding the specific demands of companies in both countries for investment in these sectors; and JAEPA is the liberalized bilateral trade agreement that Japan has ever entered into and offers 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. Australia`s negotiations for an agreement with Japan began under the Howard government in 2007. [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] The Australia-Australia Economic Partnership Agreement was concluded in November 2014 between Australia and Japan and came into force on January 15, 2015.

[1] The Australian Department of Foreign Affairs said: “The agreement will provide valuable preferential access to Australian exports and is by far the liberalizing trade agreement that Japan has ever entered into.

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