A free trade agreement between Japan and Australia will take effect on Jan. 15, the Japanese Foreign Ministry said Tuesday.
Under the bilateral FTA, Japan will slash its tariffs on Australian beef by up to half the current 38.5 percent in stages, while Australia will scrap its 5 percent tariffs on Japanese automobiles.
Australia is the first major agricultural exporter to conclude an FTA with Japan. Tokyo currently has such bilateral trade accords with 12 countries and the Association of Southeast Asian Nations.
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