Report of the Joint Study Group for an Economic Partnership Agreement (EPA) between Japan and the Republic of Colombia

The Joint Study Group for an Economic Partnership Agreement (EPA) between Japan and the Republic of Colombia was inaugurated following the agreement between both countries on its launch at the Japan-Colombia Summit Meeting held in September 2011.

At the three meetings held in November 2011, February 2012 and May 2012, respectively, the joint study group, consisting of members from the public and private sectors of both countries, discussed the elements of a possible Japan-Colombia EPA.

The results of the joint study implemented through these meetings were compiled as a report.

1. Trade relations between Japan and the Republic of Colombia are complementary, with Japan mainly exporting industrial products and Colombia mainly exporting agricultural and forestry products, and mineral resources. It is also expected that investment opportunities will increase under the Agreement between Japan and the Republic of Colombia for the Liberalization, Promotion and Protection of Investment signed in September 2011.

2. As a result of the comprehensive discussions on the 16 economic areas, including the trade of goods, trade of services and investment, it became clear that the possible EPA brings a great benefit to both countries.

   Reported items on individual economic areas

   Trade of goods

   A high-level EPA that consistent with the WTO Agreements should be targeted so that as many market access opportunities as possible are provided to both countries. A realistic and flexible approach should be taken regarding sensitive items.

   Trade of services

   Both countries should aim for an ambitious commitment to ensure high-level market access and transparency.

   Investment

   Provisions on investment should be included in the EPA by incorporating the Agreement between Japan and the Republic of Colombia for the Liberalization, Promotion and Protection of Investment, for instance.

3. In conclusion, the joint study group showed the recognition that a comprehensive and high-level EPA should contribute in bringing greater benefit, and further promote the economic integration between both countries. In addition, the joint study proposed that the governments of Japan and Colombia promptly start negotiations for the EPA between both countries.

   Appendices

   • Report of the Joint Study Group for an Economic Partnership Agreement (EPA) between Japan and the Republic of Colombia (PDF:241KB)

July 27, 2012

• Latin America and Caribbean Office, Trade Policy Bureau
• Economic Partnership Division, Trade Policy Bureau