Corporate and Regulatory Drivers
- New Horizons in International Business series
Edited by Philippe Gugler and Julien Chaisse
Chapter 9: Free Trade Agreements between Japan and ASEAN Member States: A Marriage Made in Heaven?
9. Free trade agreements between Japan and ASEAN member states: a marriage made in heaven? Sufian Jusoh and Intan Murnira Ramli INTRODUCTION The Fukuda Doctrine, first enunciated in the former Prime Minister Fukuda’s speech in Manila in 1977, charts the new era of the relationship between Japan and member states of the Association of Southeast Asian Nations (ASEAN). One of the areas addressed by the Fukuda Doctrine was the ASEAN–Japan cooperation on a range of issues as equal partners. The implementation of the Fukuda Doctrine by Japan in ASEAN could include the economic relationship between the two partners, which has now been enhanced by the ASEAN–Japan Comprehensive Economic Partnership Agreement (AJCEPA) in addition to the Economic Partnership Agreements (EPAs) entered into between Japan and some ASEAN countries, including with Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. Japan is still negotiating an EPA with Viet Nam, but there is no EPA as yet between Japan and Cambodia, Laos or Myanmar. The bilateral EPAs are still valid, and AJCEPA is treated legally as another agreement. Both EPAs do not have legal superiority. The AJCEPA reserves the issues of investment for further discussion between the parties for up to one year after the coming into force of the agreement. The attitude taken by the AJCEPA is different from the provisions in some EPAs between Japan and the individual ASEAN member states mentioned above. This chapter explores the routes towards the realization of the AJCEPA and later discusses the investment provisions...
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