Australia Wants to Ink EPA with Japan within 12 Months: Bishop

Sydney, Nov. 7 (Jiji Press)--Australian Foreign Minister Julie Bishop has underlined her country's effort to conclude an economic partnership agreement with Japan within 12 months. "My aim--and it's one strongly shared by both the prime minister (Tony Abbott), and Trade and Investment Minister Andrew Robb--is to conclude this free trade agreement within 12 months," Bishop said in her speech at Australian National University on Tuesday. Negotiations on the bilateral EPA have been prolonged over issues such as Japan's import tariffs on Australian beef and Australia's import duties on Japanese vehicles. "A free trade agreement between Australia and Japan can be equally transformative--bringing new life to our long and deep economic relationship," she said. "Not just for the symbolism of having an agreement, but to open up new, commercially meaningful, opportunities." Welcoming Japan's entry into Trans-Pacific Partnership free trade talks, Bishop said that "Japan is an integral part of the global economy" and is also "an important export destination" for Australian energy and agricultural products. Bishop underlined her emphasis on "economic diplomacy" and said that Australia puts the highest priority global economic reform and trade liberalization. END