A free trade agreement (FTA) is an international agreement between two or more countries aimed at reducing or reducing barriers to trade and bringing economic integration closer together. The JEMPA is a comprehensive agreement that also encompasses the liberalization of trade in services. Japan will treat Malaysia the same as other FTA partners. Sectors of interest to Malaysia include business and professional services, education services, communication services, tourism and travel services, and health and social security services. MJEPA is Malaysia`s first comprehensive agreement. It includes trade in industrial and agricultural goods, trade in services, investment, rules of origin, customs procedures, standards and compliance, intellectual property, competition policy, improvement of the business environment, protective measures and dispute settlement. Total trade with Japan decreased by 4.8% to RM120.26 billion ($28.98 billion) out of RM126.27 billion ($32.46 billion) in 2015. The ministers of the two nations “agree that the free trade agreement will help improve the cross-border flow of goods, services and capital between Japan and Malaysia. (and) enable both countries to benefit from their economic complementarity. The Japanese and Malaysian ministers made a joint statement on the entry into force of the free trade agreement and called it “a solid basis for the strategic partnership between Japan and Malaysia.” A free trade agreement between Japan and Malaysia went into effect on Thursday, with both countries ready to remove tariffs on most industrial goods and most land, forestry and fishery products within 10 years.
On the occasion of the launch of the free trade agreement, the two nations held their first joint commission meeting on the same day at the Iikura guest house of the Ministry of Foreign Affairs in Tokyo to discuss the details of their implementation. Malaysia has already signed and implemented 7 bilateral free trade agreements with Japan, Pakistan, India, New Zealand, Chile, Australia and Turkey. At the ASEAN level, Malaysia has concluded 6 regional free trade agreements with the ASEAN Free Trade Agreements (AFTA), China, Korea, Japan, Australia, New Zealand and India. The main text of the agreement can be consulted via this link MJEPA agreement. This should be read at the same time as the implementing agreement. Japanese officials say the free trade agreement will boost the competitiveness of Japanese producers by reducing the costs of supplying some parties to Malaysia, while local Malaysian industry will benefit from Japanese cooperation programs set out in the agreement. For questions related to preferential certificates of origin/rules of origin, please contact: Malaysia was Japan`s 10th largest trading partner. MJEPA is Malaysia`s first comprehensive agreement and entered into force on 13 July 2006 How does your product benefit from preferential customs duties Deposit the BCC with import documents from the customs administration of the importing party.
Under the JEM, Malaysia and Japan will lower or phase out tariffs on their respective industrial and agricultural products. Countries` commitments are reflected in their engagement plan. General information on the reduction and elimination of customs duties. . . . . . .