Japan has always been a hub for global trade and commerce, and the country has actively pursued free trade agreements with other nations to strengthen its economy and enhance its global reach. As of 2021, Japan has free trade agreements with numerous countries across the globe. In this article, we`ll take a closer look at who Japan has free trade agreements with and what it means for global trade.

Firstly, let`s understand what a free trade agreement means. A free trade agreement (FTA) is a pact between two or more nations where they agree to reduce or eliminate tariffs, quotas, and other trade barriers between them. The primary goal of an FTA is to promote trade and investment between the participating nations.

Japan`s first FTA was signed with Singapore in 2002, and since then, the country has signed many more FTAs. According to the Ministry of Foreign Affairs of Japan, as of 2021, Japan has FTAs with 19 countries, including Mexico, Peru, Chile, Australia, New Zealand, Vietnam, Indonesia, Malaysia, the Philippines, Thailand, India, and the European Union.

One of Japan`s significant FTAs is the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which went into effect in December 2018. The CPTPP is a trade agreement between 11 countries, including Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The CPTPP aims to boost economic growth, create jobs, and reduce poverty among the participating countries.

Another significant FTA Japan has signed is the Japan-United States Trade Agreement, which went into effect on January 1, 2020. The deal aims to reduce or eliminate tariffs on agricultural and industrial products. This agreement is beneficial for both countries as it helps to promote trade and investment.

Japan also has FTAs with countries in Europe, such as Switzerland, Norway, and Iceland. The Japan-EU economic partnership agreement (EPA) is the biggest trade deal that Japan has ever signed. The agreement aims to eliminate tariffs on more than 90% of the goods traded between Japan and the EU.

In conclusion, Japan has taken a proactive approach to sign free trade agreements with many countries across the globe, which has helped to promote trade and investment between the participating countries. With its strategic location and advanced technology, Japan`s free trade agreements have helped to strengthen its economy and enhance its global reach. With these FTAs in place, Japan is well-positioned to take advantage of new business opportunities and expand its trade relationships with other countries.