Australia and Japan have finally agreed to a free trade deal.
This new arrangement will mean billions of dollars to the economy as Australian exports of dairy, beef, wine, and a range of services are freed up.
On the other side, Japanese cars, cameras, televisions and other high-tech goods will be cheaper for consumers here as Australia eases tariffs.
Trade Minister Andrew Robb said it had been tough getting the deal done.
“After seven long years of negotiation, this historic agreement has been concluded,” he said in Tokyo, according to Fairfax Media.
“It is an agreement which is a historic one in its extent of liberalisation that Japan has concede to. It will benefit greatly Australian businesses, Australian jobs and Australian consumers, with cuts in car prices of up to $1500 on the average car.
“I don’t want to pre-empt the formal conclusion of this negotiation by our two prime ministers in a short while, but just want to say what an honour it is to be involved in this historic agreement.”