Economic Diplomacy

EPAs and FTAs are agreements that promote the liberalization and facilitation of trade and investment with the aim of strengthening broad economic relations. Japan has promoted EPAs which include a wider range of sectors. Similar to Japan's EPAs, some of the FTAs which have been concluded around the world in recent years include a variety of new areas that go beyond the elimination or reduction of tariffs and liberalization of trade in services.

• EPA: Agreements which, in addition to trade liberalization, aim to strengthen a wide range of economic relations, including rulemaking in fields of investment, movement of natural persons, intellectual property protection and competition policy, and elements of cooperation in various fields.
• FTA: Agreements between specific countries or regions which aim to reduce or eliminate tariffs on goods, barriers to trade in services, etc.