Expanding Investment and Trade Under JAEPA
Session Co-Chairs: Yuri Sato, Executive Vice President, JETRO, Bruce Gosper, CEO, Austrade
After many years of negotiation, 2015 has seen the commencement of the Japan Australia Economic Partnership Agreement. Whilst there have been immediate benefits in tariff reductions in high profile areas such as beef and wine, the opportunities for Australian companies in the wide ranging services sector to utilise provisions under JAEPA presents potential. In this session presenters and panellists will give their views on how this will lead to a further diversification of trade and investment between Australia and Japan and predict possible opportunities.
“Next, I would like to explain my own view on what we can expect as new
developments of Japan Australia business relationship in the near future.
For Japanese companies, Australia is a “small market” and “high-cost” country. As you may be well aware, Australia holds a lower share as a destination for business development than emerging countries.
On that basis, I would like to point out four advantages of business with Australia…”
“For the EPA to be truly successful, it must be viewed as part of the foundation of our relationship. It must deliver mutual benefits. It must harness our collective strengths to drive innovation. And it must assist us to continue building deep and enduring friendships. If we do these things well, I’m confident investment and trade between Australia and Japan will continue to flourish…”
“Our ultimate purpose is to conduct sustainable demand boosting measure in order to maintain and expand the service between Australia and Japan, which contribute to strengthen the economic ties between two countries, and to improve the convenience to the customers by the cooperation of the aviation industry, Qantas, ANA and JAL, and the tourism industry…”
“Putting Japan, Australia and Asia into a value chain and leveraging off the ongoing public private collaboration initiatives, it is also our belief that the two countries could create more dynamic business opportunities in the agri-food sector, not only in the bilateral relationship but also in the multilateral relationship we build…”
“The only way Australia can unleash supply is by attracting foreign investment (in agriculture and infrastructure), value adding, migrating downstream and leveraging technology…”