Prime Minister Yoshihide Suga (L) and Minister of Economy, Trade and Industry Hiroshi Kajiyama attend the online signing ceremony for the RCEP on November 15 at the Prime Minister's Office in Tokyo (Source: Kyodo)Tokyo (VNA) – The Regional Comprehensive Economic Partnership(RCEP) Agreement will create new opportunities for Japanese manufacturers and farmers, andcontribute greatly to increasing Japan’s exports to Asia, Japanese Minister ofEconomy, Trade and Industry Hiroshi Kajiyama said on November 15.
The 15 signatories are seeking to wrap up domestic proceduresand put the pact into effect “as quickly as possible,” Kajiyama told reporters afterthe deal was signed.
The deal will take effect after ratification by six membersof the Association of Southeast Asian Nations and three of the other countries.
Under the deal, Japan will eliminate 61 percent of tariffson agricultural product imports from ASEAN nations, Australia and New Zealand, 56percent for China, and 49 percent for the Republic of Korea, while maintainingtariffs on five product categories - rice, wheat, dairy products, sugar, andbeef and pork - to protect domestic farmers.
Meanwhile, the other 14 countries will cut tariffs on 92percent of Japanese industrial exports including automobile parts and steelproducts./.
VNA
