Ministry of Economy, Trade and Industry
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Statement by Minister Motegi on the substantive agreement on the Japan-Australia Economic Partnership Agreement

April 7th, 2014

  1. I wholeheartedly welcome the substantive agreement on the Japan-Australia Economic Partnership Agreement (EPA) through diligent rounds of negotiations which began in 2007.
  2. With the entry of this EPA into force, the current proportion of less than 30% of tariff-free goods to total export value to Australia will increase to more than 80% of total export value. Moreover, a massive improvement in market access will be actualized in the automotive sector, which accounts for approximately half of our exports where currently the tariff rate is 5%.
  3. Specifically, tariffs on approximately 75% of exported whole vehicles will be abolished immediately. In particular, the tariffs on Japan’s main export items, gasoline-driven vehicles (from 1,500cc to 3,000cc) will be eliminated immediately and entirely. Besides, the tariffs on other types of vehicles will be abolished in the third year, regarding automotive parts, in addition to the immediate removal of some tariffs, all classes of automotive parts tariffs will be largely eliminated within three years.
  4. Along with elimination of tariffs, high-level agreements in a broad range of fields were achieved, including the stable supply of resources and energy including natural gas and coal, the liberalization of investment and trade in services, the improvement of rules for electronic commerce and government procurement, and the protection of intellectual property rights.
  5. Japan and Australia share a close and critical economic relationship, and this EPA is a valuable framework for strengthening future trade and investment between our nations. The Ministry of Economy, Trade and Industry (METI) will continue its utmost efforts to achieve the signing and entry into force of the Japan- Australia EPA at the earliest possible date.
 
Last updated:2014-04-11
Ministry of Economy, Trade and Industry
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