Third meeting of the JAEPA Joint Committee
The third meeting of the Japan-Australia Economic Partnership Agreement (JAEPA) Joint Committee was held in Tokyo on 13 February 2019.
Summary of Outcomes
- The third meeting of the Joint Committee under the Japan-Australia Economic Partnership Agreement (JAEPA) was convened in Tokyo, Japan on 13 February. The meeting was co-chaired by Ambassador for International Economic Affairs, Takehiro Kagawa, and HE Ambassador Richard Court AC, Australian Ambassador to Japan.
- The Joint Committee welcomed the ongoing close cooperation on implementation of JAEPA since its entry into force on 15 January 2015. The regular exchange of information on trade flows under JAEPA assisted both sides in understanding its benefits.
- JAEPA remains an example of the strength of our bilateral economic relationship. The Joint Committee looked forward to further deepening bilateral trade and investment ties under the Agreement, and noted that JAEPA's ongoing importance was welcomed during Prime Minister Shinzo Abe's successful visit to Darwin in November 2018.
- The Joint Committee acknowledged that JAEPA is a living agreement, with a built-in agenda designed to ensure ongoing benefits to Japanese and Australian businesses. Co-Chairs discussed our mutual obligations under the Agreement and JAEPA's smooth implementation to date.
- The Joint Committee took note of the report of the Sub-Committee on Financial Services convened in 2017. The Joint Committee recommended that amendments to Annex 2 (Product Specific Rules) to reflect the 2017 update to the Harmonized System be agreed and approved by the Sub-Committee on Rules of Origin.
- The Co-Chairs exchanged information on trade agreements with third countries, welcomed the close cooperation between Japan and Australia in relevant international forums, and reaffirmed the highly complementary approaches of our two countries in support of open, rules-based international trade, and a prosperous Indo-Pacific region.
- The Joint Committee confirmed it would convene the Fourth Meeting in 2020 on a date and at a location to be determined.