Tokyo (VNA) - Japan's Parliament, the Diet, has endorsed a free trade agreement with the Association of Southeast Asian Nations (ASEAN), the first of its kind between Japan and a regional organisation.

According to the agreement, which covers not only goods but also services and investment, Japan will cut tariffs on 93 percent of imports from ASEAN in 10 years of the deal’s effect.

Meanwhile, six ASEAN members including Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand will lower tariffs on 90 percent of imports from Japan, also in 10 years. A more gradual tariff elimination table has been set for the remaining four ASEAN members of Cambodia, Laos, Myanmar and Vietnam.

The agreement will come into force on the first day of the second month after Japan and at least one of the 10 ASEAN members complete domestic procedures.-Enditem