The ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement entered into force today*, after the Agreement was signed by the ASEAN Member States and Japan on 14 April 2008.
Dr Surin Pitsuwan, Secretary-General of ASEAN said, “I am very pleased with this development as it will benefit Japanese investors that are operating in ASEAN countries and ASEAN supporting industries.” He added, “The AJCEP will enable more goods and services to reach ASEAN and Japanese consumers at lower prices through tariff reductions, thereby contributing to their standard of living.”
To coincide with this day, the first AJCEP Joint Committee Meeting was held at the ASEAN Secretariat. Co-chairing the meeting were Ramon Vicente T. Kabigting, Assistant Secretary, Department of Trade and Industry from the Philippines and Jun Yokota, Ambassador Extraordinary and Plenipotentiary from Japan. At the meeting, officials from ASEAN Member States and Japan discussed issues relating to the entry into force and implementation of the AJCEP Agreement.
The AJCEP Agreement entered into force today for Singapore, Lao PDR, Myanmar, Viet Nam and Japan. These countries have notified the other signatory States of the completion of their legal procedures necessary for entry into force of the Agreement by 31 October 2008.
Dr Surin encouraged the rest of the ASEAN Member States to expedite their domestic procedures so as to complete the ASEAN-Japan economic and trade integration from which all will benefit. “The entry into force of the AJCEP Agreement is a significant development given the financial and economic turmoil unfolding in the global economic system. It will provide a strong impetus for further invigoration of trade and investment in the region,” he said.
Dr Surin also said, “This is another feather in the cap for the strong ASEAN-Japan dialogue relations”. ”East Asia is now building its own economic community block by block. This trade agreement with Japan constitutes one such block for the envisaged East Asian community,” he added.
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* Article on Entry into Force of the AJCEP Agreement: “The Government of each signatory State shall notify the Governments of other signatory States in writing that its legal procedures necessary for entry into force of this Agreement have been completed. This Agreement shall enter into force on the first day of the second month following the date by which such notifications have been made by the Governments of Japan and at least one (1) ASEAN Member State, in relation to those signatory States that have made such notifications by that date.”
