Trade Agreements In Japan

Posted: October 12, 2021 by Podwits Administrator in Uncategorized

Other countries are other objectives on Japan`s bilateral trade agenda: in early 2005, Japan began to consider possible discussions with Switzerland and the actual negotiations began in 2007. In 2006, spurred on by concerns about access to energy resources, Japan began talks on a free trade agreement with Kuwait and other oil- and gas-rich countries of the Gulf Cooperation Council (GCC). There are also growing concerns about trade disadvantages for Japanese companies at a broader international level, leading to free trade agreements with Brazil, South Africa, New Zealand and even some wishful thinking for an agreement between the US and Japan. At the end of 2011, Japan showed interest in negotiating a free trade agreement with Burma. In March 2012, there were signs of an upcoming FTA discussion with Mongolia and Canada. Find out about the current eu-Japan trade relationship The US and Japan have reached a trade agreement on market access for certain agricultural and industrial goods, with plans to continue negotiations for an expanded free trade agreement. On October 17, 2019, the United States and Japan concluded an agreement on market access for certain agricultural and industrial products. Japanese lawmaker approved the agreement on December 5, 2019. Presidential Proclamation 9974 was issued on December 26, 2019 and set an effective date of January 1, 2020. On 30 December 2019, the communication from the Federal Register (84 FR 72187) on the implementation of the agreement was adopted.

The agreements presented by Japan are called “Economic Partnership Agreements” (EPAs), as the government considers that the term “free trade agreement” does not cover the broader integration of economic and social policy that these agreements between partner countries are supposed to achieve. However, these EPAs resemble, in their coverage, a free trade agreement typical of the United States, New Zealand or the EU, although less ambitious in terms of content. In the past, European companies have faced barriers to trade when exporting to Japan, which has sometimes made it difficult for them to compete. Under President Trump`s leadership, the United States and Japan agreed on the early outcomes of negotiations on market access for selected agricultural and industrial products as well as digital trade. The United States looks forward to continuing negotiations with Japan for a comprehensive agreement on the remaining tariff and non-tariff barriers and to achieving fairer and more balanced trade. To benefit from preferential tariff treatment under the US-Japan Trade Agreement, the following conditions must be met: the EU-Japan Economic Partnership Agreement entered into force on 1 February 2019. Until recently, Japan focused its bilateral negotiating agenda on a small number of Pacific countries. Important agreements have been signed with Singapore (2002), Malaysia (2004), Mexico (2004), the Philippines (2006), Indonesia (2007), Chile (2007), Thailand (2007), ASEAN in total (2008) and Vietnam (2008). In mid-2006, Tokyo announced the launch of FTA discussions with Brunei, which were completed in 2007. Japan`s agreements with Brunei and Indonesia are unique in that they guarantee Tokyo access to oil and gas supplies. Japan notoriously belatedly engaged in the “bilateral train.” Until the late 1990s, the government secured most of its bets on multilateral negotiations in order to open foreign markets to the interests of Japanese companies. However, Japan is increasingly suffering from the loss of market share that generates free trade agreements between other countries.

As a result of NAFTA, for example, Japan felt an acute need to enter into an agreement with Mexico so that its products would benefit from the same rates of duty in the Mexican market as those of the United States. The U.S.-Japan Trade Agreement (USJTA) entered into effect on January 1, 2020.

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