TOKYO, April 3 (UPI) -- Japan and Thailand signed a free-trade agreement Tuesday cutting more than 90 percent of tariffs between the countries and increasing trade $44 billion.
The deal, signed by Japanese Prime Minister Shinzo Abe and visiting Thai Prime Minister Surayud Chulanont, was agreed to last year but came into question after September's military coup that ousted Prime Minister Thaksin Shinawatra, who helped craft the agreement.
It must still be approved by Japan's parliament. Thailand's National Legislative Assembly has already approved it.
The deal calls for 97 percent of Japanese exports to Thailand and 92 percent of Thai exports to Japan to be tariff-free within 10 years, China's Xinhua news service reported.
Japan would immediately scrap tariffs on imports of processed shrimp and tropical fruits such as mango, papaya and durian. It would also cut by half tariffs on boneless and cooked chicken within five years. Rice tariffs will remain.
Thailand will gradually cut tariffs on Japanese automobiles over four years and scrap tariffs on auto parts within seven years.
It will also immediately scrap tariffs on half of all Japanese steel imports and end tariffs on the remainder within 10 years.
