“The Prime Minister’s announcement of the signing of the Free Trade Agreement with Japan in Canberra today is the start of an important new phase in Australia’s relationship with one of our most significant economic partners,” said Chief Executive of the Business Council of Australia Jennifer Westacott.

“Just like the landmark 1957 Commerce Agreement that was the catalyst for decades of Australia–Japan economic prosperity, this new FTA recognises that continuing to move our economies closer together is in the long-term national interests of both countries.

“The Australian Government has been focused and pragmatic in concluding the highest-quality bilateral trade agreement Japan has ever signed.

“This agreement will give Australian exporters better access to the $5 trillion Japanese market than Japan has provided under any other of its trade agreements.”

“It is particularly encouraging to see Japan’s commitment, for the first time in any trade agreement, to provide Australian financial services companies guaranteed cross-border access in a number of areas, including the provision of investment advice and portfolio management services.

“With one in five Australian jobs related to trade, the benefits from important agreements like this reach far into the community. We hope to see this FTA come into force quickly to allow the economic benefits to reach Australian exporters, businesses and the broader community.

“Australia has long benefited from a strong bipartisan commitment to advancing Australia’s trade and investment interests with key trading partners. This agreement, negotiated by successive governments since 2007, is a good example of how both parties have contributed to promote Australia’s trade agenda.

“We urge the government to continue to push forward on negotiating a balanced and comprehensive FTA with China, as well as progressing the 12-party Trans-Pacific Partnership negotiations.”

For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2603 | Mobile 0403 241 128