Japan, Mexico agree to further liberalize trade under amended accord

TOKYO, Feb. 22 Kyodo -
Japan and Mexico have agreed to amend a bilateral free trade agreement to further liberalize their trade in areas such as farm products, Japanese officials said Tuesday, adding each government will try to secure early parliamentary approval of the revision.
Under the revision, Japan will expand low-tariff import quotas for items such as beef, pork, chicken and orange juice. But the farm ministry denied that the revision of the FTA, which took effect in 2005, would affect domestic farmers.
Mexico has agreed to make efforts to abolish tariffs on auto parts and paper for ink-jet printers earlier than the initially scheduled 2014, possibly by 2013, the officials said.
The agreement was reached Monday in Mexico during a meeting co-chaired by Ikuo Yamahana, Japan's parliamentary vice foreign minister, and Beatriz Leycegui Gardoqui, Mexico's vice minister for foreign trade.
''The vice ministers recognized that market access improvements will give important benefits for both countries, opening new opportunities for the exporters,'' according to a joint press statement issued after the meeting.
The vice ministers also confirmed that bilateral trade and investment have substantially increased in volume since the free trade pact came into force.
According to the Japanese Foreign Ministry, the total volume of trade between Japan and Mexico stood at 1.13 trillion yen in 2010, up from 796.2 billion yen in 2004.
The two countries have been engaged in talks to review the free trade agreement since September 2008.
Under the agreed revision, Japan would increase its annual import quotas subject to reduced tariffs for beef to 15,000 tons from 6,000 tons and for pork to 90,000 tons from 80,000 tons.
Japan decided to both increase the quotas and cut tariff rates for some farm products.