A free trade agreement between South Korea and Japan is expected to reduce domestic sales of local carmakers by up to 226,000 units annually.
US Ambassador to Malaysia Christopher J. LaFleur said it was not expected that the National Automobile Policy would become an obstacle for both countries in convening discussions on Free Trade Agreements (FTA).
"We in Malaysia believe this is a very strategic agreement," Malaysian Minister of International Trade Rafidah Aziz said. "There is no opposition."
Toyota Motor Corp Japan is re-strategising its position in Malaysia to take advantage of free trade agreements (FTAs) signed between the countries in the region.
The free trade agreement reached between South Africa and the EU on automotive products in November last year has run into trouble and has not been implemented.
Local automobile and information technology (IT) industries are expected to benefit most from the Korea-U.S. free trade agreement (FTA).
Japan has urged the Philippines to restart talks on the stalled negotiations of the bilateral Economic Partnership Agreement (EPA) so they can conclude all negotiations within the month. The Philippines has remained non-committal until a case filed by civic groups with the Supreme Court, seeking a temporary restraining order to bar the Philippine government from concluding the bilateral Free Trade Agreement (FTA) with Japan, is resolved.
The Japanese are keen on resolving contentious issues on the automotive sector under the Japan-Philippines Economic Partnership Agreement within the month.
Hyundai Motor Co. will put up a car-assembly plant in the Philippines after the Association of Southeast Asian Nations (Asean) and South Korea forge a free-trade agreement, according to the Korean carmaker’s sole distributor in Manila.
The Government’s announcement to initiate free trade agreements (FTAs) with neighbouring economies, including ASEAN and Gulf countries, by 2006 has given Indian industry cause for concern.
General Motors, the world’s largest vehicle manufacturer, applauds the successful conclusion of negotiations to create a US-Oman Free Trade Agreement.
Japan’s Mitsubishi Motor has set its sights on Thailand and other Asian nations for future expansion, the president of the automaker said on Tuesday. "With FTAs (free trade agreements) envisioned with Asian countries, such as ASEAN and India, we should reap benefits of such initiatives," Masuko said.
Japan and Indonesia resumed free trade agreement (FTA) talks in Tokyo Tuesday and hope to conclude an agreement within two years, government officials said.
The much-publicised Thai FTA seems to be stuck in first gear. According to sources in the auto industry, it is stuck over the rules of origin issue, which has been a contentious issue right from the beginning.
The Philippines will push for a provision in a planned free-trade deal with Japan that would allow renegotiation on motor vehicle tariffs by 2009.
Pakistan is going to hold secret talks to make some changes in the existing Free Trade Agreement (FTA) with Sri Lanka, which has been operational since June 2005. Pakistan fears that under the FTA, Indian products can enter its market through Sri Lanka, particularly automobile parts.
There is more than meets the eye in the Thai-Japan free trade agreement. It may spawn benefits for more car models.
Thai auto parts manufacturers have expressed strong opposition to a plan to reduce tariffs on imported Japanese automobiles with engines larger than 3,000cc under the proposed Thailand-Japan free trade agreement.