Japanese exporter2/18/2023 Prime Minister Tony Abbott and the Prime Minister of Japan, Shinzo Abe, signed the Japan-Australia Economic Partnership Agreement (JAEPA) on 8 July 2014, with the agreement coming into force on 15 January 2015. Japan-Australia Economic Partnership Agreement The NSW Government's objective is to build on NSW's existing trade and investment successes with Japan, and to attract new investment into priority sectors including clean technology, life sciences, agribusiness, research and professional services. In addition, Japan was NSW's largest market for merchandise exports, which totalled A$10.9 billion in 2016-17, as well as Australia's second-largest source of foreign direct investment, valued at $90.9 billion as at December 2016. Japan is Australia's second-largest export market and was Australia's third-largest trading partner for goods and services in 2015-16. Their similar economic and regulatory systems and history of cooperation ensure certainty and stability, providing an excellent basis for the growth of their highly complementary economic relationship. With a population of 126.9 million in 2016, the Japanese market is characterised by consumers with high levels of disposable income and companies with a strong global orientation and a willingness to invest in sustainable, long-term products and services.Īustralia and Japan are developed, open-market economies and have strong, transparent regulatory systems that foster competition and provide robust protection for intellectual property and investments. Japan has a well-educated, industrious workforce, while its large and affluent population makes it one of the world's largest consumer markets. Japan is the world's third-largest economy (US$ terms) and an important trading partner for many countries, both as a source of imports and an export destination.
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