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Saturday, 10-May-2014 20:10 Email | Share | Bookmark
Australia, Japan Agree On Free Trade Deal - Abc News












Abbott, who led his front page conservative coalition to power in September elections, is leading a mission of hundreds of people to East Asia, seeking to deepen economic ties. In Abe, a fellow conservative, Abbott has found an ally eager to strengthen diplomatic and defense ties. Referring to Abbott by his first name, Abe said he believed the summit would lead to a "new (visit site) relationship" with Australia, a fellow ally of the U.S. Talks on the trade fitness pact took seven years as Japan has balked at allowing foreign competition in farm products. The "basic agreement" reached by Abe and Abbott on Monday calls for the current 38.5 percent tariff on beef from Australia to drop to 23.5 percent for chilled beef within 15 years. The tariff for frozen beef will fall to 19.5 percent within 18 years. <br>More: http://abcnews.go.com/International/wireStory/australian-pm-japan-hoping-reach-trade-deal-23216927



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