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Report
No.240105 |
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- International - |
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Japan-Malaysia EPA Takes Effect, and Japan-India EPA Negotiation Starts The Japan-Malaysia Economic Partnership Agreement/Free Trade Agreement between the two countries came into effect on July 17. This marks the third of such agreement, following ones with Singapore and Mexico*.
On the same day, the EPA related ministers from the two countries or Mr. Taro Aso, Minister of Foreign Affairs, Mr. Shoichi Nakagawa, Minister of Agriculture, Forestry and Fisheries, Mr. Toshihiro Nikai, Minister of Economy, Trade and Industry, Mr. Sadakazu Tanigaki, Minister of Finance from Japan side and Mr. Datuk Seri Rafidah Aziz, Minister of International Trade and Industry and other officials from Malaysian side gathered together at a joint committee meeting in Tokyo and signed the documents that provide for procedural details to follow the taking effect of EPA. The EPA obliges elimination of tariffs over 97% of the trade in terms of value between the two countries. As for agricultural tariffs, Japan eliminates tariffs on tropical fruits such as mangoes and papayas imported from Malaysia, while tariffs on oranges and green tea etc. will be phased out over 15 years. Malaysia eliminates import tariffs on temperate climate fruits like apples, pears and persimmons. The Ministry of Agriculture, Forestry and Fisheries (MAFF) sees the EPA as "not having large impact on agriculture, forestry and fisheries of Japan," according to vice-minister of Agriculture, Forestry and Fisheries Mamoru Ishihara. (For the main items covered by the agreement, refer to July 2005 issue.) In the meantime, Japan and India officially decided to launch negotiations aimed at reaching an economic partnership agreement to reinforce economic relationship between the two countries. The decision, which was made on July 17 on the margins of G 8 Summit meetings held at Saint Petersgurg, Russia, recommends to top leaders of the two countries to launch negotiations within a reasonable time. The decision was agreed upon at a meeting of Japanese Prime Minister Junichiro Koizumi and Indian Prime Minister Manmohan Singh. Negotiations will now start anytime within the year. Japan-India Joint Study Group, set up following the bilateral summit meeting of April 2005, met four times since June of the year. The joint study group reported that an EPA needs to be consistent with provisions of the World Trade Organization agreements while, at the same time, realistic and flexible approach should be taken in handling sensitive areas. |
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