Japan’s 18 Economic Partnership Agreements (EPAs)
Japan has signed a total of 18 Economic Partnership Agreements (EPAs) with 20 countries in addition to the European Union.
These countries include Singapore, Mexico, Malaysia, Thailand, Indonesia, Brunei, Philippines, Switzerland, Vietnam, India, United Kingdom, Peru, Australia and Mongolia.
It also has agreements with the Association of Southeast Asian Nations (ASEAN), the Trans-Pacific Partnership Comprehensive and Progressive Agreement (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).
Economic Partnership Agreements (EPAs) are trade agreements that seek to establish a closer economic partnership between countries or regions.
These agreements go beyond the simple reduction of tariffs and can address a variety of areas, such as market access, services, investment, intellectual property, competition and regulatory cooperation.
Economic Partnership Agreements
Japan announced its intention to join TIPAT in March 2013 and, following negotiations with 11 other countries, signed the TPP Agreement on February 4, 2016.
TIPAT entered into force for Japan, Mexico, Singapore, New Zealand, Canada and Australia on December 30, 2018, and for Vietnam on January 14, 2019.
Pursuant to the EPAs, Japan will collaborate extensively with partners to, among other things, reduce or eliminate tariffs; agree on mutual benefits in the fields of investment, services and government procurement; and enhance patent protection in the field of intellectual property.
Japan is a member of international organizations based on international trade treaties and other agreements that seek to promote free trade in the international marketplace, including the World Trade Organization, the Organization for Economic Cooperation and Development, the World Customs Organization and the International Trade Center.
Economy
According to the Monthly Economic Report published by the Cabinet Office of Japan for December 2023 released on December 19, 2023, economic activity is recovering moderately, although it has recently stalled somewhat, as the employment and income situation improves and the implementation of various policies is carried out. positive effects.
Economic conditions in Japan may be adversely affected by the slowdown in major overseas economies and the tightening of monetary policy globally, as well as by inflation and fluctuations in financial and capital markets.
