Signature of the Japan-Australia Economic Partnership Agreement
On 8 July 2014, Prime Minister Abbott and Japanese Prime Minister Shinzo Abe signed the Japan-Australia Economic Partnership Agreement during an official ceremony at Parliament House in Canberra.
Media release: Historic trade deal with Japan to drive growth, 8 July 2014
Japan-Australian Economic Partnership Agreement – a snapshot
The Japan-Australia Economic Partnership Agreement (JAEPA) delivers substantial benefits for the Australian economy, making it easier to do business with Japan, our 2nd largest trading partner.
Understanding the Agreement
More information and a range of fact sheets are available in Understanding the agreement.
About the Japan-Australia Economic Partnership Agreement
Conclusion of negotiations on the Japan-Australia Economic Partnership Agreement (JAEPA) was announced in Tokyo on 7 April 2014 by Prime Minister Tony Abbott and Prime Minister Shinzo Abe. Prime Minister Abbott and Prime Minister Abe signed the agreement on 8 July 2014 in Canberra.
The Joint Standing Committee on Treaties (JSCOT) tabled the report of its inquiry into JAEPA in Parliament on 28 October 2014. JSCOT report 144 recommended that binding treaty action be taken.
The Government subsequently introduced legislation needed to implement the Agreement into Parliament on 29 October 2014. The Customs Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014 and the Customs Tariff Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014 and their explanatory memoranda were introduced into the House of Representatives by Minister Robb.
In Japan, JAEPA was submitted to the Diet on 24 October, through discussion in the Foreign Affairs Committee.
The agreement will provide valuable preferential access for Australia's exports and is by far the most liberalising trade agreement Japan has ever concluded. Australia and Japan are natural partners with highly complementary economies. The agreement will bring our economies and societies even closer and underpin a strong relationship for many years to come.