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Japan & Indonesia to sign free trade accord
Indonesia
Monday 16 July 2007
Japan and Indonesia will sign a free trade agreement in August that will reduce most tariffs on trade between the two countries.
Japan already has free trade agreements, with Brunei, Chile, Malaysia, Mexico, the Philippines, Singapore and Thailand and is negotiating deals with several other countries, including Australia.
Duties on Japanese fruit exports, such as apples and grapes are to be removed when the pact goes into effect and Japan will erase tariffs on about 93% of Indonesian imports.
Tariffs will be cut immediately on nearly all Indonesian industrial and forestry imports and it will remove tariffs on up to 1.000 tons of bananas per year in five years.
The pact does not include so-called 'sensitive' products such as rice, wheat and meat.
Japan already has free trade agreements, with Brunei, Chile, Malaysia, Mexico, the Philippines, Singapore and Thailand and is negotiating deals with several other countries, including Australia.
Duties on Japanese fruit exports, such as apples and grapes are to be removed when the pact goes into effect and Japan will erase tariffs on about 93% of Indonesian imports.
Tariffs will be cut immediately on nearly all Indonesian industrial and forestry imports and it will remove tariffs on up to 1.000 tons of bananas per year in five years.
The pact does not include so-called 'sensitive' products such as rice, wheat and meat.
