Japan FTA delivers benefits across Wannon
The landmark Japan-Australia Economic Partnership Agreement (JAEPA) enters into force today, which Mr Tehan explained, means more than 97 per cent of Australia’s goods exports to Japan will receive preferential access, or enters duty-free, once it’s fully implemented.
From today, exporters in Wannon will benefit from an immediate round of tariff cuts by Japan. This will be followed by another round of cuts in less than three months on 1 April, Mr Tehan said
Mr Tehan said given Japan is Australia’s second-largest export destination, JAEPA paves the way for a significant boost in opportunities for businesses in a range of industries including agriculture and processed foods, resources, manufacturing and services? such as financial, education, telco and legal services.
For businesses large and small in Wannon this will enhance their competitive position in the Japanese market, placing them ahead of other international exporters, and I urge all business people to take advantage of this and seek-out potential avenues for trade, Mr Tehan said
JAEPA is the most ambitious Free Trade Agreement Japan has concluded with a trading partner and Mr Tehan said it was not only exporters who stand to benefit.
Consumers in Wannon are also expected to gain from the Agreement, particularly those in the market for a new set of wheels; Japanese car-makers have reduced the cost of various models with savings ranging from $260 to $2600 for typical?family ‘ vehicles, Mr Tehan said.
JAEPA is the second of three historic trade agreements concluded by the Abbott Government since coming to office. The Agreement with Korea entered into force late last year, while it is hoped the Free Trade Agreement with China will enter into force in the second half of this year.
These agreements will benefit the residents of Wannon by enhancing economic growth and creating jobs, leading to greater prosperity and higher living standards for the entire community, Mr Tehan said.
Further information on the Agreement can be found at: http://www.dfat.gov.au/fta/jaepa/
Australian businesses are encouraged to use a step-by-step guide to accessing preferential tariffs on exports to Japan. The guide is available at: www.dfat.gov.au/fta/jaepa/fact-sheets/guide-to-using-jaepa-to-export-and-import-goods.html
Media contact: Cate Mercer-Grant 03 5572 1100 or 0408 564 232