Japan joined the ‘Patent Cooperation Treaty’ (PCT) in October 1978 and in 2015, the Japan Australia Economic Partnership Agreement (JAEPA) entered into force to pave the way for further growth in two-way investment and trade between the two complementary economies.
For further information on filing in Japan, please contact Patrick McManamny.
Japan’s economy is the third largest in the world, having only been overtaken by China in 2010. It is also one of the world’s largest consumer markets thanks to a well-educated, hardworking workforce with large disposable income.
Manufacturing has been a key component to Japan’s economic growth between 1960 and 1980, and it is now a global leader in production of:
- precision and optical equipment
- machine tools
- chemicals, and
In April 2016, export of these goods to the United States, China, and the Republic of Korea contributed to 17 per cent of the Japanese GDP.
The Japanese economy is currently facing challenges due to their energy policy; Australia is well placed to benefit from the government’s encouragement for Japanese firms to invest in natural resources overseas.
In 2007, a comprehensive partnership was established between Japan and Australia through the 2007 Joint Declaration on Security Cooperation. This was followed in 2015 by the aforementioned Japan-Australia Economic Partnership Agreement.