The EU-Japan EPA negotiations officially began on March 25, 2013, following the publication of the Sustainability Impact Assessment for the Future Economic Partnership Agreement in July 2012.

• There is more trade in goods than services between Japan and the EU.

  
  

Japan is the EU's second largest trading partner in Asia after China. At the same time, Japan is the EU's seventh largest partner in exports and imports of goods.

• Imports from Japan to the EU include machinery, automobiles, chemicals, optical and medical devices, and plastics.

• EU exports to Japan are chemicals, automobiles, machinery, optical and medical equipment, food and beverages, etc.

  
  

“EU Trade Relations with Japan.” European Commission, policy.trade.ec.europa.eu/eu-trade-relationships-country-and-region/countries-and-regions/japan_en. Accessed 22 Feb. 2024.

Question:

How much percentage does EU contributes to Japan’s economy?

“European Union Brief.” Australian Government Department of Foreign Affairs and Trade, www.dfat.gov.au/geo/europe/european-union/european-union-brief. Accessed 22 Feb. 2024.

The EU and Australia came up with the negotiations for a political Framework Agreement which contains several economic and trade cooperation arrangements on 22 May 2018. The trade negotiations aim to remove trade barriers, promote sustainable development, more opportunities for European companies doing business or exporting with countries signed up for Trans-Pacific, protect distinctive regional EU food and drink products from imitations in Australia, and allow EU companies to better participate in government procurement in Australia.

According to the European Commission, the EU is Australia's third largest trading partner, accounting for 60.9 billion AUD which is 8.7% of Australia's total goods trade. 15.8% of Australian goods imports, worth 48.7 billion AUD were from the EU, while 3.1% of Australia's goods exports worth 12.2 billion AUD, were destined for the EU. It made Australia the eighth-biggest customer of goods. 

Works Cited

“EU Trade Relations with Australia.” Trade, European Commission, policy.trade.ec.europa.eu/eu-trade-relationships-country-and-region/countries-and-regions/australia_en. Accessed 22 Feb. 2024.

“The European Union and Australia.” EEAS, www.eeas.europa.eu/australia/european-union-and-australia_en?s=163. Accessed 22 Feb. 2024.

Feb 27th, thur

Australia's trade in goods, commodities, and services, and how does it get regulated by the EU?

Australia's major trade in commodities are Iron ore( $153 billion in 2020–2021), coal and natural gases ($39 billion and $30 billion in 2020–2021), etc. Also for services, Australia's major service export is travel services ($ 40 billion in 2019-2020 before COVID disruptions).

Fuel exports were valued at $3.3 billion and accounted for 16.4 per cent of Australia's total goods exports to the EU, with exports being dominated by Coal. Manufacturing exports were valued at $4.7 billion and accounted for 23.3 per cent of total goods exports to the EU. The EU has a power to open up the trade market for Australian goods, and services.

There is a Mutual Recognition Agreement between the EU and Australia, which helps to facilitate industrial trade and removes technical barriers.

Works Cited

Australia, Government. “Australia’s Goods Trade with the EU.” STATISTICS SECTION, OFFICE OF ECONOMIC ANALYSIS INVESTMENT AND ECONOMIC DIVISION, www.dfat.gov.au/sites/default/files/australias-goods-trade-with-the-eu.pdf. Accessed 27 Feb. 2024.

corporateName=Commonwealth Parliament; address=Parliament House, Canberra. “Australian Trade in Figures.” Home – Parliament of Australia, corporateName=Commonwealth Parliament; address=Parliament House, Canberra, ACT, 2600; contact=+61 2 6277 7111, 27 Sept. 2022, www.aph.gov.au/About_Parliament/Parliamentary_departments/Parliamentary_Library/pubs/BriefingBook47p/AustralianTradeFigures. Accessed 27 Feb. 2024.

“EU Trade Relations with Australia.” Trade, European Commission, policy.trade.ec.europa.eu/eu-trade-relationships-country-and-region/countries-and-regions/australia_en. Accessed 22 Feb. 2024.

Intra-EU trade accounts for 54% of France’s exports (Germany 15%, Italy 8%, and Belgium and Spain 7%), while outside the EU 8% go to the United States and 6% to the United Kingdom.

In terms of imports, 66% come from EU Member States (Germany 17%, Belgium 10%, and the Netherlands 9%), while outside the EU 7% come from China and 5% from the United States. 

Work Cited

“France – EU Member Country Profile.” European Union, European Union, european-union.europa.eu/principles-countries-history/country-profiles/france_en. Accessed 22 Feb. 2024.

What are some disadvantages or challenges in this relationship?

2.Japan active participation in upholding the multilateral trading system including its contribution to the MC12 outcomes, its participation in WTO reform.(https://www.wto.org/english/thewto_e/countries_e/japan_e.htm#goodsSchedule)

The Russian Federation became the 156th member of the WTO on 22 August 2012. Accession to the WTO cleared the way for Russian goods to enter the international market.

However, because of the Russia-Ukraine war, Russia's membership in the WTO will limit Russia's ability to engage in actions that are inconsistent with WTO trade rules.

2022， if Russia refuses to accept the changes suggested by WTO, then a three-fourths vote could expel the Russian Federation from being a member of WTO.

James, Bacchus. “Boot Russia from the WTO.” Cato. Org, 28 Feb. 2022, www.cato.org/commentary/boot-russia-wto.

“Russia’s Accession to the World Trade ...” RUSSIA’S ACCESSION TO THE WORLD TRADE ORGANIZATION: WHY ACCESSION BENEFITS THE U.S. ECONOMY, ustr.gov/sites/default/files/Factsheet on Why Accession Benefits the US Economy_0.pdf. Accessed 22 Feb. 2024.

Japan is one of the important members of the World Trade Organisation (WTO), with high status and influence. Under the multilateral trading system of the WTO, Japan defends its economic interests and international trade order by participating in various trade negotiations and rule-making.

In the field of digital trade, Japan plays an important role in the WTO. Japan has participated in the formulation of a large number of bilateral and multilateral digital trade agreements and has implemented some important digital trade principles in the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), such as the free flow of data across borders, the prevention of data localisation, and the prevention of mandatory disclosure of proprietary source codes.

The EU still relies on Russia for about 10% of its gas, most of which is imported via seaborne tankers as liquefied natural gas (LNG). However, some member states, including Austria and Hungary, rely heavily on Russian supplies.

“Conditions for Membership.” European Neighbourhood Policy and Enlargement Negotiations (DG NEAR), neighbourhood-enlargement.ec.europa.eu/enlargement-policy/conditions-membership_en. Accessed 22 Feb. 2024.

“Russia–European Union Relations.” Wikipedia, Wikimedia Foundation, 9 Feb. 2024, en.wikipedia.org/wiki/Russia%E2%80%93European_Union_relations.

1. economic cooperation: France has a developed economy, and its economic relations with the BRICS countries help to further the economic development of both sides. 

2. Political and Foreign Relations: Political and foreign relations also exist between France and the BRICS countries. France has common benefits in cooperation with these countries in international organizations such as the United Nations, WTO, and so on. 

The annual APEC Economic Leaders Meeting, involving leaders, ministers, and officials, plays a crucial role in promoting cooperation. APEC emphasizes open regional cooperation on a global scale, preventing regional divisions. This engagement extends across various fields, with almost all Japanese ministries participating. Notably, APEC has facilitated discussions on topics such as trade, finance, education, environment, and more.

Japan actively supports APEC activities through various ministries, and the budget for such endeavors comes from the Foreign Ministry, Ministry of Economy, Trade and Industry, and the Ministry of Finance. The Japanese government, particularly the Foreign Ministry, plays a central role in formulating consensus and preparing policy options, ensuring a cohesive approach to APEC engagement.

“MOFA: What Is APEC for Japan?” Ministry of Foreign Affairs of Japan, Jan. 2003, www.mofa.go.jp/policy/economy/apec/what.html. Accessed 22 Feb. 2024.

“What Is APEC?” Ministry of Foreign Affairs of Japan, 14 Jan. 2022, www.mofa.go.jp/ecm/apec/page24e_000286.html. Accessed 22 Feb. 2024.

1. Access to a larger market: By being a member of the WTO, France gains access to a larger market for its goods and services, as it can trade with other member countries on a more favorable basis.

2. Protection of trade rights: The WTO provides a framework for resolving trade disputes and ensures that France's trade rights are protected, helping to prevent unfair trade practices.

3. Increased foreign investment: Membership in the WTO can attract foreign investment to France, as it signals a commitment to international trade rules and regulations.

4. Economic growth: By participating in the global trading system facilitated by the WTO, France can experience economic growth through increased trade opportunities and market access.

5. Enhanced competitiveness: Being part of the WTO encourages France to improve its competitiveness by adhering to international trade standards and regulations, leading to greater efficiency and innovation in its industries.

Overall, joining the WTO can benefit France by promoting economic growth, enhancing trade opportunities, and ensuring a level playing field in the global marketplace.

Work Cited: “WTO: News, Videos, Reports and Analysis.” France 24, www.france24.com/en/tag/wto/. Accessed 23 Feb. 2024. 

-supporting the multilateral trading system and the WTO

-promoting trade and investment liberalisation, including supporting trade in environmental goods and services, promoting

services competitiveness and mutual recognition of professional qualifications in APEC

-advancing APEC's digital trade agenda

-leading work on structural reform

-promoting inclusive and sustainable growth, including through capacity building initiatives on gender data and women's

access to markets and supporting indigenous business internationalisation.

Citaton:

Department of Foreign Affairs and Trade. “Asia-Pacific Economic Cooperation (APEC) | DFAT.” Dfat.gov.au,

2018, www.dfat.gov.au/trade/organisations/apec/asia-pacific-economic-cooperation-apec.

Esther class work

David

How do those accomplishments make trade fair for all?

The WTO operates by consensus. And all Members must agree before a decision can be made.

Australia also commits on reforming the WTO to ensure it can function more effectively, and continues to meet the needs of Members and business in today’s modern global trading environment.

“World Trade Organization.” Australian Government Department of Foreign Affairs and Trade, www.dfat.gov.au/trade/organisations/wto/Pages/the-world-trade-organization. Accessed 23 Feb. 2024.

BRICS

1.     Against sanctions

2.     National economic interests

3.     The real property market

4.     the New Development bank (NDB)

5.     further market reforms

6.      public intervention

7.     multilateral trade agreements

8.     Tariffs reduction

9.     Trade barriers

10.   Advocate equity

AKKAŞ, Veli Can. “Russia’s Foreign Policy in the BRICS Framework - Ankasam: Ankara Center for Crisis and Policy Studies.” ANKASAM, 4 Sept. 2023, www.ankasam.org/russias-foreign-policy-in-the-brics-framework/?lang=en.

Mozias, Petr. “Russia as a Country of BRICS: Issue of Identification.” BRICS Journal of Economics, Faculty of Economics, Lomonosov Moscow State University, 12 Sept. 2023, brics-econ.arphahub.com/article/98255/element/4/45//.

“Russia’s Accession to the World Trade ...” RUSSIA’S ACCESSION TO THE WORLD TRADE ORGANIZATION: WHY ACCESSION BENEFITS THE U.S. ECONOMY, ustr.gov/sites/default/files/Factsheet on Why Accession Benefits the US Economy_0.pdf. Accessed 27 Feb. 2024.

Exports: Agriculture - 43804 million US dollar

Manufacture - 108929 million US dollar

Fuels and Mining - 248868 million US dollar

Total - 494350 million US dollar

Imports: Manufacture - 10812 US dollar

Agriculture - 34729 million US dollar

Manufacture - 234074 million US dollar

Total - 304013 million US dollar

Services (2022):

Exports: Goods related services - 2224 million US dollar

Travel - 5531 million US dollar

Transport - 15513 million US dollar

Other commercial services - 25018 million US dollar

Imports: Goods related services - 2237 million US dollar

Travel - 20258 million US dollar

Transport - 14182 million US dollar

Other commercial services - 33051 million US dollar

The value of exports to the APEC region fell 5.5 per cent to $246.1 billion in 2015 – since 2010, export values have increased by 3.5 per cent per annum. • Primary products decreased 13.2 per cent to $133.6 billion. • Manufactured products (including both STM and ETM) rose 0.9 per cent to $32.7 billion. • Other goods increased 3.4 per cent to $38.5 billion. • Services rose 11.8 per cent to $41.3 billion.

Australia’s goods and services imports from the APEC region:

The value of imports from the APEC region increased 8.1 per cent to $240.6 billion in 2015 – since 2010, import values have risen by 5.4 per cent per annum. • Primary products decreased 15.9 per cent to $37.4 billion. • Manufactured products (including both STM and ETM) rose 15.5 per cent to $148.2 billion. • Other goods increased 16.5 per cent to $11.7 billion. • Services rose 9.4 per cent to $43.3 billion.

Composition of Australia’s services exports to the APEC region:

Australia’s major services exports to the APEC region in 2015 were – Education-related travel services – up 8.1 per cent to $11.4 billion – Other personal (excluding education-related) travel services – up 16.3 per cent to $10.3 billion. – Other business services6 – up 9.9 per cent to $6.4 billion – Transport services – up 2.1 per cent to $4.1 billion – Business travel services – up 5.0 per cent to $2.9 billion.

Composition of Australia’s services imports from the APEC region:

Australia’s major services imports from the APEC region in 2015 were – Other personal (excluding education-related) travel services – up 7.5 per cent to $15.1 billion – Transport services – up 3.3 per cent to $9.3 billion. – Other business services7 – up 24.1 per cent to $7.6 billion. – Intellectual property (IP) charges – up 5.6 per cent to $2.6 billion – Business travel services – down 2.6 per cent to $2.2 billion.

Major goods and services export markets:

Australia’s major export markets in the APEC region in 2015 were – China – down 6.2 per cent to $85.6 billion – Japan – down 16.0 per cent to $42.2 billion – United States – up 19.3 per cent to $22.1 billion – Republic of Korea – down 9.2 per cent to $20.0 billion – New Zealand – up 3.4 per cent to $12.6 billion.

Major goods and services import sources:

Australia’s major import sources from the APEC region in 2015 were – China – up 18.3 per cent to $64.2 billion – United States – up 14.3 per cent to $48.1 billion – Japan – up 14.3 per cent to $22.7 billion – Republic of Korea – up 21.7 per cent to $16.1 billion – Thailand – up 20.0 per cent to $15.5 billion.

Source:

https://www.dfat.gov.au/trade/resources/trade-at-a-glance/Documents/top-goods-services.html 

class work Esther

Australia, a major iron ore exporter, engages in global trade, with China being a significant importer.

APEC promotes regional economic integration and trade liberalization.

Australia, as an APEC member, aligns its trade policies with the organization's principles,

fostering cooperation and addressing trade barriers. The Australian government, in conjunction with APEC initiatives,

regulates iron ore trade to ensure fair practices and sustainable economic development within the Asia-Pacific region.

“Asia-Pacific Economic (APEC)” Australian Government Department of Foreign Affairs and Trade,https://www.dfat.gov.au/trade/organisations/apec/asia-pacific-economic-cooperation-apec. Accessed 27 Feb.2024

-Trade in goods

-Agriculture products

-Transparent and fair opportunities

-Transportation

-Travel

https://www.wto.org/english/thewto_e/countries_e/japan_e.htm#gdSchd

Commodities

Major Japanese exports include electronic equipment and cars. Trade with other countries is therefore very important to Japan. The goods that Japan has exported have changed over time, from agricultural products to manufactured goods, textiles, steel, and cars.

Goods are physical products, while services are non-physical activities. Goods can be seen, touched, and stored, whereas services are consumed at the time of production. Goods are manufactured or produced, while services are performed.

Japan trades in a commodity, good/service and is regulated by EU

EU-Japan Economic Partnership Agreement

• The EU-Japan Economic Partnership agreement entered into force on 1 February 2019.

There are a number of regulations that stand in the way of trade between Japan and the EU.

-No alteration rule

Originating goods must be transported from the EU to Japan (or vice versa) without further processing in a third country.

Some operations may be performed in a third country if the product is under customs supervision.

• Adding or affixing markings, labels, seals, or other documents to ensure compliance with certain domestic requirements of the importing country

• Preserving the product in good condition

• Storage

• Partitioning a consignment

In addition, goods in Japan must include these:

• Technical rules and requirements.

• Health and safety rules and requirements, SPS

• Environmental regulations applicable to imports.

Russian main exports are energy, oil and petroleum products, gas... The foreign countries receive from Russia over 300 million tons of oil and approximately 250 billion cubic meters of gas. Russia imports machinery and equipment, vehicles, consumer goods, foods, chemical products, industrial consumer goods.

The top services exported by Russia in 2020 were Miscellaneous business such as travel expenses bank charges, professional, and technical services ($11.1B), Air transport ($5.87B), Sea transport ($4.81B), Other transport ($4.73B), and Construction in the economy ($2.78B).

“Russia (RUS) Exports, Imports, and Trade Partners.” The Observatory of Economic Complexity, oec.world/en/profile/country/rus. Accessed 27 Feb. 2024.

Putin to BRICS: Russia Is “reliable Partner” for Africa on Food, ..., www.reuters.com/world/putin-brics-russia-is-reliable-partner-africa-food-fuel-supplies-2023-08-24/. Accessed 27 Feb. 2024.

“Foreign Trade, Economy of Russia.” Advantour, www.advantour.com/russia/economy/trade.htm. Accessed 27 Feb. 2024.