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Report
No.240305 |
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- International - |
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Japan and Chile Come to Free Trade Agreement in Principle The government publicized on September 22 that Japan and Chile has reached an agreement on major elements for the Japan-Chile Economic Partnership Agreement (EPA). The agreement is a comprehensive one that covers opening up of agricultural markets as well, and on the focal point of tariff reduction, it sets low tariff rate quota for imports of beef and pork originating in Chile. For the agricultural products in which Japan has export interest, Chile will immediately eliminate import tariffs on Japanese green tee, Chinese yams and Japanese persimmons, while it will phase out tariffs overtime for soy sauce, Nashi [oriental pear] and Miso [soybean paste]. The two countries aim to sign on the agreement as early as the beginning of 2007 so that it could take effect within the year. Agricultural products sensitive to Japan are excluded from the agreement such as rice, wheat and barley, sugar, starch etc. Fresh orange is subject to re-negotiation. For products of Chile's export interest to Japanese market such as beef and pork, it was agreed to set low tariff quotas of limited quantities while tariffs for silver salmon and trout will be phased out over 10 years. |
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