November 14, 2010

1. The Government of Japan today announced the conclusion of Japan-Peru Economic Partnership Agreement (EPA) negotiations.

2. This EPA is a comprehensive agreement covering a broad range of fields, including the removal or reduction of customs duties on goods traded between Japan and Peru, and the simplification of procedures associated with intellectual property rights and business travel. I firmly believe that the EPA will promote mutual growth in the rapidly expanding Peruvian economy, the Japanese economy, and companies in both countries, and I wholeheartedly welcome the conclusion of negotiations.

3. While vigorously pursuing free trade agreements (FTAs) with major countries, such as the United States, China, the European Union, and the Republic of Korea, Peru is also participating in Trans-Pacific Partnership (TPP) negotiations. I believe that the Japan-Peru EPA is significant for Japan in that it will help to ensure that the business environment for Japan is no less favorable than that for other countries.

4. The Ministry of Economy, Trade and Industry (METI) will continue to do its utmost to ensure signing and enactment of the Japan-Peru EPA at the earliest possible date.

Latin America and Caribbean Office, Trade Policy Bureau