This publication was made before the current government The Japan-Australia Economic Partnership Agreement (JAEPA) entered into force on January 15, 2015. Japan is the world`s third-largest economy and has a long-standing and important trade relationship with Queensland. It is Queensland`s second-largest trading partner, with goods exports worth $8.8 billion, or nearly 20% of Queensland`s total exports. Japanese companies could sue Australian governments under clauses that should be included in the Australia-Japan free trade agreement, writes Peter Martin for the Sydney Morning Herald. Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of merchant and Australian services. A number of concessions were guaranteed to Australian agricultural exporters, while Australian tariffs on electronics, white goods and cars were to be reduced. Negotiations on the agreement began under the Howard government in 2007. Abbott said, ”This is the first time Japan has negotiated a Comprehensive Economic Partnership Agreement or Free Trade Agreement with a major economy, especially with a large economy with a strong agricultural sector.”  Prime Minister Abe visited Australia in July to sign the Japan-Australia Economic Partnership Agreement and address the Australian Parliament.  The IEPA is Australia`s second bilateral trade agreement with a major North Asian trading partner following the signing of a free trade agreement (FTA) with Korea in April 2014. A free trade agreement with China is being negotiated. Together, these three economies account for more than half of Australia`s exports. This revolutionary agreement will significantly improve Australian businesses` access to the world`s third-largest economy.
”The agreement will provide valuable preferential access to Australian exports and is by far the most liberalizing trade agreement ever reached by Japan,” the Australian Department of Foreign Affairs said. Australia and Japan are natural partners with highly complementary economies. This agreement will bring our economies and societies even closer together and strengthen a strong relationship for many years to come.  Some fear the trade deal due to a lack of transparency, including rumors that there is a provision that makes it easier for Japanese companies to sue the Australian government, reports ABC National Radio PM. 8. June 2016: The Japan-Australia Free Trade Agreement had no provisions for ISDS, but there was a clause that would trigger ISDS negotiations if Australia concluded another agreement with ISDS. The Guardian reports that the Sino-Australian Free Trade Agreement has sparked secret talks to add ISDS to the Japanese Free Trade Agreement. These were interrupted by the early elections, but if the coalition government wins, they expect the talks to conclude after the elections, with the result not to be released until after the event. The ALP policy rejects ISDS and commits to reviewing ISDS in existing agreements.
The Japan-Australia Economic Partnership Agreement (JAEPA) offers considerable benefits to the Australian economy and facilitates its activities with Japan, our second largest trading partner. The agreement will strengthen and deepen trade between two of the largest economies in the Asia-Pacific region. The full text of the agreement as well as useful information and fact sheets on free trade agreements are available on the website of the Ministry of Foreign Affairs and Trade. If you have any specific questions about the agreement, send an email JapanEPA@dfat.gov.au or call the DFAT North Asia hotline on 02 6261 1888. Importers can contact the Australian Department of Home Affairs to agree on an agreement with Japan that began in 2007 under the Howard government.  In April 2014, Australian Prime Minister Tony Abbott led a trade delegation to Japan, South Korea and China. . . .