Japanese and Peruvian governmental officials held the 4th talking on Economic Partnership Agreement (EPA) in Tokyo during October 1st-6th. Peru requested tariff elimination for copper ingot, lead ingot and zinc ingot as same as the case between Japan and Chile. Japan disapproved the offer and insisted on keeping tariffs.
Two governments aim to agree in EPA terms before APEC’s summit scheduled on November 14th. The negotiation point would be how to seek agreeable terms related to nonferrous metals, especially zinc ingot. The next talking will be held until early November. The negotiation is reaching the final stage. Japan has agreed with Chilean government to eliminate tariffs on lead and zinc immediately while copper step by step within 10 years. Peruvian government is requesting same terms as Chile. Japanese government has disapproved the offer. The governments may seek an agreeable point. Tariff elimination is expected to impact Japanese nonferrous metal smelters, especially for zinc ingot.Japan Steel Scrap Composite Prices (Sangyo Press)
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