Economic Partnership Agreement

Last week the Japan-Australia Economic Partnership Agreement (JAEPA) was signed by Prime Ministers Shinzo Abe and Tony Abbott. From a regional perspective, the best news is that the 15% tariff on bulk wine imports to Japan will be abolished immediately.

The elimination of the tariff on bottled product will be spread over 7 years but its removal is a strong signal that Japan is open for Australian Wine Business. With Australian Wine exports to Japan in 2013 valued at $42M the market is not yet considered a major market but the abolition of the tariff is very positive.

More than 97 per cent of Australia’s exports to Japan will receive preferential access or enter duty-free when JAEPA is fully implemented, delivering significant benefits to Australia’s farmers, manufacturers, exporters, service providers and consumers.

Winemakers’ Federation of Australia Strategy & International Affairs General Manager, Tony Battaglene, said the agreement was good news for the Australian wine industry. “Resolving the trade agreement with Japan is about developing export opportunities and giving wine a step-up in the evolving Japanese market”. He added, “The Japanese market shows great potential for Australia’s wine exports building on the positives from the Australia-Korea Free Trade Agreement”.

A range of fact sheets have been published and are available from the JAEPA page on the Department of Foreign Affairs and Trade (DFAT) website

 

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