This publication was published prior to the entry into force on 15 January 2015 of the Japan-Australia Economic Partnership Agreement (JAEPA). Japan is the world`s third largest economy and has a long and important trade relationship with Queensland. It is Queensland`s second largest trading partner, worth $8.8 billion, or nearly 20% of Queensland`s total exports. JAEPA is Australia`s second bilateral trade agreement with a major trading partner in North Asia, following the signing of a free trade agreement with Korea in April 2014. A free trade agreement is being negotiated with China. Together, these three economies account for more than half of Australia`s exports. June 8, 2016: The Japan-Australia Free Trade Agreement had no provision for ISDS, but there was a clause that would trigger ISDS negotiations if Australia concluded another agreement with ISDS. The Guardian reports that the Free Trade Agreement between China and Australia has triggered secret talks to include ISDS in Japan`s free trade agreement. These were interrupted by early elections, but if the coalition government wins, they expect them to conclude the talks after the elections, the result will not be published until after the event. The ALP`s policy opposes ISDS and commits to reviewing ISDS in existing agreements. The Wire reports on the free trade agreement between Japan and Australia, including an interview with AFTINET organizer Dr. Patricia Ranald. Immediately after the launch of JaEPA, 99.7% of Australia`s exports of resources, energy and manufacturing products were freed from tariffs to Japan.
After full implementation on April 1, 2034, all current Australian exports of resources, energy and industrial goods will benefit from duty-free imports. Dr Patricia Ranald was asked on Friday, March 21 at the RN Breakfast about the link between the proposed free trade agreement between Japan and Australia and the negotiations on the Trans-Pacific Partnership Free Trade Agreement. www.abc.net.au/radionational/programs/breakfast/japan-free-trade-… The Australian Department of Foreign Affairs said: “The agreement will provide valuable preferential access to Australian exports and is by far the liberalizing trade agreement that Japan has ever concluded. Australia and Japan are natural partners with very complementary economies. This agreement will bring our economies and societies even closer together and strengthen a strong relationship for many years to come.  Dr. Ranald points out that we are not in a position to see the text before the agreement is signed and argues that there should be a more democratic and transparent process for trade agreements.