Japan, Australia agreed to study free trade agreement
(Agencies)
Updated: 2005-04-20 20:45

The prime ministers of Japan and Australia said Wednesday they agreed to study the possibility of signing a free trade agreement.

Canberra has long coveted a free trade deal with Japan, which is Australia's largest export market and third-biggest source of investment.

Japan is heavily protective of its farmers, however, and agricultural goods are among Australia's biggest exports.

Japanese Prime Minister Junichiro Koizumi told a news conference after meeting John Howard, his Australian counterpart, that agricultural issues presented ``tough challenges'' to the two sides.

Koizumi said he expected the FTA feasibility study to take two years, after which the countries would decide whether to begin negotiations for a pact.

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