JAPAN-MALAYSIA ECONOMIC PARTNERSHIP AGREEMENT

Malaysia's total trade with Japan has increased significantly from RM60.0 billion in 1994 to RM112.9 billion in 2005. Japan accounts for 11.7 per cent of Malaysia’s global trade in 2005 and second largest trading partner after ASEAN. Japan, with a GDP per capita of RM106,400 continues to be an important market for ASEAN and Malaysia.

Status

  • Preparatory work to establish a Japan-Malaysia Economic Partnership Agreement (JMEPA) commenced in February 2003.

  • Negotiations were concluded in October 2005.

  • The Agreement was signed by both Prime Ministers on 13 December 2005 in Kuala Lumpur and came into force on 13 July 2006.

Scope

·         The JMEPA consists of an FTA component and bilateral economic cooperation. The implementation of tariff concessions would be over 10 years with flexibility for selected sensitive products.

·         The FTA component covers: trade in industrial and agricultural goods, trade in services, investment, rules of origin, customs procedures, standards and conformance, intellectual property, competition policy, enhancement of business environment, safeguard measures and dispute settlement. 

·         Cooperation areas included are: agriculture, forestry and commodities, education, human resource development, information and communication technology (ICT), small and medium enterprises, science and technology, tourism and environment.

 

Last update 060907

 

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