• Linkdin

EU, Japan finalise Economic Partnership Agreement

18 Dec '17
2 min read

Building on the political agreement reached in principle during the European Union (EU)-Japan Summit in July this year, EU trade commissioner Cecilia Malmström and Japanese foreign minister Taro Kono recently announced in Brussels the conclusion of the final discussions on the EU-Japan Economic Partnership Agreement (EPA), the biggest bilateral trade pact by the EU.

The EPA will remove the vast majority of the €1 billion of duties paid annually by EU companies exporting to Japan, as well as a number of long-standing regulatory barriers. It will also open up the Japanese market of 127 million consumers to key EU agricultural exports and will increase EU export opportunities in a range of other sectors, according to an EU press release.

The agreement will scrap duties on wines and many varieties of cheese, ensure the protection in Japan of more than 200 high-quality European agricultural products, open up services markets, such as financial services, e-commerce, telecommunications and transport, and guarantee EU companies access to the large procurement markets of Japan in 48 large cities.

The deal includes a specific commitment to the Paris Climate Agreement and a comprehensive chapter on trade and sustainable development, sets the highest standards of labour, safety, environmental and consumer protection and strengthens EU and Japan's actions on sustainable development and climate change. (DS)

Fibre2Fashion News Desk – India

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search