The governments of Canada and Japan agreed to formally start talks aimed at forging a free trade agreement between the two countries. If established, the free trade agreements (FTA) would be Japan’s first with a country from the Group of Eight major economies. An FTA between these two highly-developed trading partners seek to boost economic, energy and security relations. The negotiation are seeking to develop and achieve long-range goals as: – Increased Trade and Investment – Opening Markets to Goods and Services – Regulation on Non-Tariff Barriers – Promoting Innovation – Promoting Transparency – Entrepreneurship and Increasing Flows of People Canada currently pursuing treaties with the European Union, South Korea and India, Ottawa would also begin free trade talks with Thailand. Japan’s current priorities for economic integration are focused on the Pacific Rim and ASEAN areas. In 2011, Japan signed concluded an FTA with Mexico (September 23) and signed Economic Partnership Agreements (EPA) with the Republic of India (June 30) and Peru (May 31). At this moment, Japan is involved in advanced negations of an EPA with Australia.