Today marks the conclusion of negotiations on the Japan-Peru Economic Partnership Agreement (EPA), which began in May 2009. After today’s summit meeting in Yokohama, Prime Minister Naoto Kan of Japan, and President Alan Garcia of the Republic of Peru, signed a joint statement on the conclusion of negotiations, based on results achieved to date.

1. The Republic of Peru is a major Latin American country firmly focused on maintaining a stable liberal economic policy. Latin America is a region receiving increased attention in recent years for its abundant natural resources and rapid economic growth, and the Japan-Peru EPA is expected to enhance business opportunities for Japanese companies.

2. The conclusion of the EPA will drive the liberalization and facilitation of trade, promotion of investments, and development of systems in related fields, resulting in increased business opportunities, enhanced bilateral economic relations, and overall deeper ties between the two countries.

> November 2008

At the Japan-Peru summit meeting in Tokyo, both leaders agreed to favorably consider the commencement of negotiations on a Japan-Peru EPA.

> February 2009

At the Japan-Peru foreign ministerial meeting in Tokyo, then-Minister of Foreign Affairs Hirofumi Nakasone proposed a preparatory meeting oriented toward launching negotiations on a Japan-Peru EPA. Both sides agreed to organize such a meeting.

> March 2009

A preparatory meeting oriented toward launching negotiations on a Japan-Peru EPA was held during the Second Joint Study Group in Tokyo.

> April 2009

The leaders of Japan and Peru decided to launch negotiations on a Japan-Peru EPA during their telephone conference.

> May 2009-November 2010

Seven negotiation sessions were held.

> November 2010

The two leaders officially concluded negotiations.

• Statement by Minister of Economy, Trade and Industry Akihiro Ohata
• Joint Statement on the Conclusion of Negotiations for an Economic Partnership Agreement between Japan and Peru (PDF:8KB)

November 14, 2010

Latin America and Caribbean Office, Trade Policy Bureau