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Japan, Australia holding free trade talks

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Japan and Australia are discussing a bilateral free trade deal, with the focus on cuts in agricultural tariffs.

Foreign ministry officials from both sides began 4 days of talks in Tokyo on Tuesday.

Bilateral negotiations for an Economic Partnership Agreement began 5 years ago.

The 2 sides remain sharply at odds over Japan's import tariffs on Australian beef, wheat and other farm products.

Australia wants the tariffs reduced, while Japan says the duties are needed to protect its domestic industry.

The bilateral talks were suspended following the March 11th disaster in Japan.

When the talks resumed in December, the 2 sides agreed to speed up discussions for an early conclusion of the economic pact.

On Tuesday, Foreign Minister Koichiro Gemba told reporters that a delay in signing an EPA with Australia would cause Japanese businesses to lag behind their foreign rivals.

News credit: http://www3.nhk.or.jp/daily/english/20120214_21.html

Image credit: http://www.dol.gov/ilab/map/images/maps-australia.gif

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