Japan,Turkey agree on EPA joint study

Governments of Japan and Turkey have agreed to work toward concluding a bilateral economic partnership agreement, or EPA.Japanese Foreign Minister Koichiro Gemba and Turkish Economy Minister Zafer Caglayan agreed on Thursday in Tokyo to launch a joint study program by year's end.

Experts from academia, business and government will conduct the joint study over a one-year period by looking into the economic effects of an EPA.When the study is completed, the two countries plan to enter negotiations on concluding an economic partnership agreement.

The privatization of Turkish state-run industry, along with Western investment, has led to its high economic growth. It has recently become an export base of industrial products to European and African markets.

Japan's government wants to help Japanese firms tap Turkey's robust growth by abolishing tariffs and simplifying customs procedures between the 2 countries.

Currently Turkey imposes a 10-percent duty on Japanese passenger cars and a 4-percent tariff on Japanese diesel engines.Japan is trying not to lose its competitive edge as Turkey moves to conclude bilateral free trade agreements with other countries, such as South Korea.Inputs Media agencies