Trade Agreement Australia And Japan 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. 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. URAPA is Australia`s second bilateral trade agreement with a major trading partner in North Asia, 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. JAEPA is japan`s most liberalizing bilateral trade agreement ever, giving Australian exporters, importers, investors and producers a significant advantage over their international competitors. It will provide unprecedented market access and a competitive advantage for Australian agricultural exports, many of which reside in Queensland. Australia`s negotiations for an agreement with Japan began in 2007 under the Howard government.

[2] In April 2014, Australian Prime Minister Tony Abbott led a trade delegation to Japan, South Korea and China.

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