(MENAFN) Japan and Australia are likely to reach the free trade agreement (FTA) during a summit between both the counties' prime ministers, Xinhua reported
The Australian prime minister said: "I am confident that a long-awaited free trade economic partnership agreement between Japan and Australia will shortly be finalized.
Australia has agreed to drop the 5-percent tariff on automobiles from Japan, while Japan decided to cut tariffs on beef exported by Australia by 50 percent
The two countries are aiming to finalize an FTA accord this summer and to implement it the end of next year
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