Japan will apply a tariff-quota system on products such as chicken and pork from Australia to allow set quantities of imports with low duty rates under a bilateral free trade agreement (FTA)
Tokyo and Canberra recently reached a substantive free trade agreement after seven years of negotiations, but the details had not been revealed, Kyodo reported.
Under the FTA deal with Canberra, Tokyo will reduce tariffs on chicken and related processed products by a maximum 40 per cent, and those on pork and related processed products by a maximum 50 per cent, up to certain quantities in both cases. Tariffs will also be cut for beef processed products, the Japanese Farm Ministry said.
The low-tariff quotas will be expanded over the next 10 years for chicken and related processed products as well as for beef processed products, while the quota for pork and related processed products will be expanded over the next five years.
Under the bilateral free trade pact, Japan will also abolish tariffs on around 88 per cent of all goods within 10 years, while Australia will do so on more than 99 per cent of goods.
