Japan Eu Trade Agreements

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December 11, 2020

Doing business and investing in Japan can be difficult for European companies[14] and there have been some trade disputes between the two parties. However, the slowdown in the Japanese economy has encouraged them to become more open to business and investment in the EU. [2] In the work of reducing trade barriers, the emphasis is on opening up investment flows. [1] Discover the current trade relationship between the EU and Japan Japan is the EU`s second largest trading partner in Asia after China. After the Economic Partnership Agreement (EPA) enters into force in early 2019, the largest free trade agreement between the EU and Japan will lead to significant trade and investment opportunities in key industries in two of the world`s most advanced economies. Learn more about exporting European food and drink to Japan as part of our EPA tax trade agreement? ec.europa.eu/trade/trade-policy-and-you/in-focus/exporters-stories/#p=#filter-partners-Japan&c – THE EU and Japan`s EPA IN is expected to boost trade in goods and services and create many opportunities for EU SMEs: tariffs on more than 90% of Japan`s imports from the EU will be abolished as soon as the EPA comes into force. This will cover a wide range of sectors: agriculture and food, manufactured goods (including textiles, clothing, etc.), as well as forestry and fishing. In addition, non-tariff barriers to motor vehicles, medical devices and “quasi-drug” sectors are expected to be significantly reduced. Finally, the agreement will facilitate the export of services to the Japanese market and will affect a considerable number of sectors, from telecommunications to postal services to the financial sector. “EU Strikes Data Agreement with Japan with the UK” The agreement will create the world`s largest open area for trade, 17 July, 2018 From 2018, the EU has recorded a surplus of 13 billion euros in services trade with Japan. The evolution of goods trade since 2000 has been characterized by a marked reduction in the EU-27 trade deficit with Japan, with Japan`s share of total EU imports increasing from 9.3% in 2000 to 3.6% in 2012. For more details, see the table below: [10] allows the EU to significantly increase its beef exports to Japan, while pork will be marketed duty-free and almost duty-free for fresh meat; The agreement also contains a full chapter on trade and sustainable development; sets the highest standards for work, safety, the environment and consumer protection; strengthens EU and Japan`s action on sustainable development and climate change and fully protects public services. Source: European Commission About the agreement:ec.europa.eu/trade/policy/in-focus/eu-japan-economic-partnership-agreement/ In the past, European companies have faced barriers to export trade to Japan, which has sometimes made them more difficult to compete with.

Copenhagen Economics, Assessment of trade and investment barriers between the EU and Japan, 2009 EU-Japan Trade: ec.europa.eu/trade/policy/countries-and-regions/countries/japan/ Market access database:madb.europa.eu/madb/indexPubli.htmmadb.europa./madb/fta_japan_overview.htm EU-Japan Total trade in services between the EU and Japan accounts for about 35% of total trade in services between the EU and Japan.

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