Japan leads the way in trade with ASEAN

Description: 

"Tens of thousands of Japanese companies operate in ASEAN and their number is increasing year by year.Japan is establishing chambers of commerce in many areas and many companies are participating in their activities. These chambers of commerce are members of the Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA), a group consisting of 10 Japanese chambers of commerce in nine ASEAN countries, excluding Brunei. Their objective is to improve the business environment for Japanese companies in the ASEAN region. Since 2008, FJCCIA has held a dialogue with the Secretary-General of ASEAN every year. This gives Japanese companies in ASEAN and the Japan External Trade Organization (JETRO) the opportunity to make proposals for improving the business environment to ASEAN. There has been success, for example, in improving the operation of certificates of origin, which are necessary to give preferential treatment to mutual goods in the ASEAN region’s trade. Why is that important? Bilateral or multilateral free trade agreements (FTAs) can be signed to reduce tariffs and eliminate non-tariff barriers to increase free trade and investment. In the case of trade under FTAs, the importer submits a Preferential Certificate of Origin to customs when importing. The format of the certificate of origin is different according to each FTA and the importer must follow each agreement. Normally, the most favoured nation (MFN) tariff rate is applied — a lower rate than the General Tariff Rate, Temporary Tariff Rate or Tariff Rate of the World Trade Organization. But among FTA countries, goods can be imported at an even lower preferential tariff than the MFN tax rate..."

Creator/author: 

Junichiro Haseba

Source/publisher: 

"East Asia Forum" (Australia)

Date of Publication: 

2019-10-19

Date of entry: 

2019-11-07

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar, ASEAN

Language: 

English

Local URL: 

Format: 

pdf

Size: 

37.97 KB (3 pages)

Resource Type: 

text

Text quality: 

    • Good