The agreement will leverage Australia’s strengths to drive economic growth and job creation.

More than 97 per cent of Australia’s exports to Japan will receive preferential access or enter duty-free when the Agreement is fully implemented and it is the most ambitious trade deal Japan has ever concluded with anyone, affording Australia major concessions across a range of areas, most notably services and agriculture.

JAEPA represents a strong outcome for Australian beef, the biggest agricultural export to Japan, as well as for fruit, vegetables, nuts, wine, seafood, processed food and other commodities, with many tariffs eliminated.

The Australian Government will continue to push for additional outcomes through scheduled renegotiations for key agricultural products under JAEPA, and in other negotiating fora, including in the Trans-Pacific Partnership negotiations.

Effectively 100 per cent of Australia’s resources, energy and manufacturing exports will also benefit from tariff-free entry into Japan under this agreement.

JAEPA also guarantees access to the Japanese market for a range of services where Australia has an enviable reputation, including financial, legal, education and telecommunications services. Australian suppliers will also be guaranteed non-discriminatory access to the lucrative Japanese government procurement market.

Australian consumers may also benefit from cheaper Japanese cars and parts, and a range of household items including whitegoods and electronics through the elimination of tariffs.

JAEPA will afford private Japanese investment in non-sensitive areas a new screening threshold of $1.078 billion, up from $248 million, sending a strong signal to Japanese investors that we welcome their capital.

JAEPA will enter into force after the completion of domestic legal and parliamentary processes by both countries, including consideration by the Joint Standing Committee on Treaties.

The full text of the agreement is now publicly available online.