ID :
21330
Fri, 09/26/2008 - 10:53
Auther :
Shortlink :
https://oananews.org//node/21330
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Japan, Switzerland work out deal for concluding free trade accord
TOKYO, Sept. 25 Kyodo - Japan and Switzerland have basically agreed to conclude a free trade agreement in the near future during the latest meeting of senior officials from the two countries, trade sources said Thursday.
If realized, Switzerland would be the first European country to conclude a free
trade accord with Japan, which has so far signed the so-called economic
partnership agreements with nine economies including Singapore, Indonesia,
Mexico, Thailand and Chile.
The two countries found common ground on most major issues in the eighth round
of negotiations held from Monday through the early hours of Thursday in Bern,
Switzerland, the sources said.
Japan and Switzerland, which are both net food importers, kicked off talks in
May last year to liberalize bilateral trade.
The countries still need to make some adjustments before officially announcing
the basic deal, the sources said, adding that the announcement could take place
as early as next Monday.
Japan's exports to Switzerland, mostly automobiles and high-tech products,
amounted to 355 billion yen in 2007, while those of Switzerland to Japan stood
at about 613 billion yen, with wristwatches accounting for nearly one-third of
the total.
Since the mid-1990s, Swiss's trade surplus with Japan is expanding partly
because nearly 80 percent of Japanese exports are currently subject to Swiss
tariffs, according to Japanese officials.
In contrast, about 80 percent of Swiss imports to Japan in 2007 were free from
tariff barriers, according to the officials.
The conclusion will provide good business opportunities for Japanese companies
as most of the Swiss tariffs will be scrapped or lowered under the economic
partnership accord, which will also cover cooperation in investment and
services, in addition to trade in goods.
In the course of the negotiations, Japan mainly called on Switzerland to
eliminate or cut import tariffs on industrial goods. Switzerland was urging
Japan to free up imports of such products as cheese and wine, the sources said.
==Kyodo
If realized, Switzerland would be the first European country to conclude a free
trade accord with Japan, which has so far signed the so-called economic
partnership agreements with nine economies including Singapore, Indonesia,
Mexico, Thailand and Chile.
The two countries found common ground on most major issues in the eighth round
of negotiations held from Monday through the early hours of Thursday in Bern,
Switzerland, the sources said.
Japan and Switzerland, which are both net food importers, kicked off talks in
May last year to liberalize bilateral trade.
The countries still need to make some adjustments before officially announcing
the basic deal, the sources said, adding that the announcement could take place
as early as next Monday.
Japan's exports to Switzerland, mostly automobiles and high-tech products,
amounted to 355 billion yen in 2007, while those of Switzerland to Japan stood
at about 613 billion yen, with wristwatches accounting for nearly one-third of
the total.
Since the mid-1990s, Swiss's trade surplus with Japan is expanding partly
because nearly 80 percent of Japanese exports are currently subject to Swiss
tariffs, according to Japanese officials.
In contrast, about 80 percent of Swiss imports to Japan in 2007 were free from
tariff barriers, according to the officials.
The conclusion will provide good business opportunities for Japanese companies
as most of the Swiss tariffs will be scrapped or lowered under the economic
partnership accord, which will also cover cooperation in investment and
services, in addition to trade in goods.
In the course of the negotiations, Japan mainly called on Switzerland to
eliminate or cut import tariffs on industrial goods. Switzerland was urging
Japan to free up imports of such products as cheese and wine, the sources said.
==Kyodo
