Australia's Free Trade Agreement With Japan

[Sikahalv]

"AUSTRALIA is on the verge of inking a historic free trade agreement with Japan that could see prices fall on everything from electronics to sake.

Japanese Prime Minister Shinzo Abe has arrived in Australia in what is the first visit by a Japanese leader in 12 years. Today he will sign a free trade agreement with Prime Minister Tony Abbott that has been seven years in the making and is designed to provide Australia with “valuable preferential access” to Japan’s $4.9 trillion economy."

http://www.news.com.au/finance/economy/australias-free-trade-agreement-with-japan-could-see-prices-fall-for-consumers/story-e6frflo9-1226980714601

Interesting read... so will this affect the availability or price of importing a car from Japan to Australia?

Please discuss

[PRIMO]

We should see the 5% duty disappear.

The duty on on cars should have been abolished when GST was introduced. Basically it is a tax on a tax.

Lets hope this happens but I have no faith in tony Abbott or any of his monkey back stabbing policy's. he is what I call un Australian I haven't seen him do anything positive yet. He is a joke in the international news for everything I've seen on TV here in Japan. Paul Keating was right about him... "God help us if he becomes PM".

Edited July 8, 2014 by PRIMO

[Sikahalv]

...I just paid the 5% duty last week

[flatlinerz]

so does this man we can start importing any cars from japan now?

[Ben C34]

No.

[Sikahalv]

...that would just be too easy.

[minosum90]

Does anyone know when this will apply? I'm thinking of importing in a couple of months is it worth waiting?

[Sikahalv]

Interesting... http://www.dfat.gov.au/fta/

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 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.

Since the conclusion of negotiations officials have been engaged in finalising the text of the Agreement, translating the English language text into Japanese language and then verifying the translation for accuracy. This had to be completed before signature and the public release of the text.

To bring JAEPA into force the following steps must now be completed:

• The text of the Agreement along with a National Interest Analysis will be tabled in the Australian Parliament for 20 joint sitting days and will be considered by the Joint Standing Committee on Treaties (JSCOT) Amendments to relevant legislation will be introduced to Parliament.

• Japan will undertake its own domestic treaty-making processes during this period, including approval by Japan’s Parliament.

• Australia and Japan are aiming to complete their domestic treaty processes this year. Once this occurs, both countries will exchange Diplomatic Notes to certify they are ready for entry into force of the Agreement. JAEPA will enter into force 30 days after the exchange of notes.

• Australia’s treaty-making process is set out at http://www.dfat.gov.au/treaties/making/

Edited July 16, 2014 by Sikahalv