Free Trade Agreement With Japan And Australia

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Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of market and Australian services. The full text of the agreement, as well as useful information and information sheets from the FTA, are available on the website of the Ministry of Foreign Affairs and Trade. For any specific questions, email [email protected] or call the DFAT North Asia hotline on 02 6261 1888. Importers can contact the Department of Home Affairs, Japan is the third largest investor in Australia, with investment shares worth more than $130 billion in 2013. Japan is Australia`s sixth investment target. This groundbreaking agreement will significantly improve Australian businesses` access to the world`s third largest economy. 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. 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] 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. 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. 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. 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] Some have concerns about the trade deal due to a lack of transparency, including rumors that there is a provision that makes it easier for Japanese companies to sue the Australian government, ABC Radio National PM reports. June 8, 2016: The Japan-Australia Free Trade Agreement had no provision for ISDS, but there was a clause that would trigger ISDS negotiations if Australia concluded another agreement with ISDS.

The Guardian reports that the Free Trade Agreement between China and Australia has triggered secret talks to include ISDS in Japan`s free trade agreement. These were interrupted by early elections, but if the coalition government wins, they expect them to conclude the talks after the elections, the result will not be published until after the event. The ALP`s policy opposes ISDS and commits to reviewing ISDS in existing agreements.

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