Canada-Japan relations are underpinned by political, economic and cultural ties supported by shared values and positive mutual perceptions. While the launch of the CPTP will certainly allow its signatory states to have better access to the markets of different member countries, bilateral trade agreements continue to offer preferential access to partner countries. In 2012, Canada and Japan announced negotiations for a Comprehensive and High-Level Economic Partnership Agreement (EPA). The agreement, known as the Canada-Japan Economic Partnership, aims to reduce and, in some cases, remove non-tariff and tariff barriers that limit trade between the two countries. Since the trade agreement came into force in 2011, EU exports to South Korea have increased by 55%, while bilateral merchandise trade has reached a record level of EUR 90 billion. The United States and Australia ratified their own trade agreements in 2012 and 2014 respectively. On March 25, 2012, Canada and Japan began negotiations for a free trade agreement. The first round of negotiations of the Canada-Japan Economic Partnership Agreement (EPA) was held November 26-30, 2012 in Tokyo, Japan. The second and third rounds took place April 22-26 in Ottawa, Canada, and July 8-12 in Tokyo, Japan. The fourth round of negotiations took place in Ottawa from November 12-14, 2013. The fifth round of negotiations for the Canada-Japan epa was held March 24-28, 2014 in Tokyo, Japan.
The sixth round of negotiations on the Canada-Japan Economic Partnership Agreement was held in Ottawa, Canada, July 28-31, 2014. The seventh round of negotiations on the Japan-Canada Economic Partnership Agreement was held in Tokyo from November 17 to 21, 2014. CAFTA supports efforts to further develop economic relations with Japan and sees a significant opportunity to further develop trade. Japan currently imposes high tariffs on many agricultural and food products and imposes non-tariff barriers in a number of sectors. Non-tariff barriers are likely to significantly impede the flow of goods and significantly increase the costs of importing products into a country. A bilateral trade agreement with Japan could be worth billions of dollars to the Canadian and Japanese economies. Given the uncertain future of trade agreements in both the Pacific and North America, it is time to conclude the Canada-Japan Economic Partnership Agreement (EPA). Since February 26, 2011, the Government of Canada has launched an extensive consultation process with The Canadian public, provinces and territories, businesses and non-governmental organizations to obtain a contribution to a potential free trade initiative with Japan (see Canada Gazette Consultations: On Possible Negotiations for a Comprehensive Economic Partnership with Japan). The Canadian government welcomes the contribution of all Canadians who have contributed to the consultation process to date.
Their views will be taken into account as Canada-Japan economic relations develop and Canada`s broader trade agenda is developed. We welcome and encourage stakeholder input throughout the negotiation process. Please contact us for any questions or comments via the contact information below. It is not yet known whether Japan will be able to negotiate a bilateral trade agreement with the United States or redefine the TPP with the remaining 11 members who have agreed to reassess the possibility of a new agreement without the Americans. An agreement between Canada and Japan could be concluded quickly without losing hopes of further trade liberalization in the region. After seven rounds of negotiations on the EPA, much of the hard work has already been done when laying the foundation stone. The Canadian government has already indicated that it is ready to resume negotiations with Japan.