Australian businesses continue to reap the benefits of the Japan-Australia Economic Partnership Agreement (JAEPA) three years after its entry into force.
JAEPA, which entered into force on 15 January 2015, provides a competitive advantage for Australian businesses to our second-largest export market, giving them unparalleled access to more than 127 million consumers.
Under JAEPA more than 97 per cent of Australia’s exports now enter Japan duty free or under preferential tariff rates.
Business is booming for those who have taken advantage of the preferential access JAEPA offers.
Key Australian agricultural exports have experienced significant growth under JAEPA. Figures from the first three-quarters of 2017, compared to the same period in 2016, show honey exports grew 66.1 per cent, mandarin exports grew 65.8 per cent, bulk wine exports grew 52.6 per cent and frozen beef exports increased by more than 32 per cent.
JAEPA is creating new Australian jobs as businesses expand and employ more people to meet the demand created by the agreement.
There are more wins to come for Australian exporters under JAEPA, with a fifth round of tariff cuts on 1 April 2018.
The Turnbull Coalition Government is pursuing an ambitious trade agenda, and more agreements like JAEPA, to fuel Australia’s economy and create more jobs.
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555