Agreement Between The European Union And Japan

This agreement is particularly beneficial for French farmers and exporters: Japan is France`s sixth largest trading partner outside the European Union. Around 8,000 French companies are already exporting there, many for the first time exporters, and selling more than 6 billion euros worth of goods. The Japanese market offers considerable potential for French products due to its size and the high standards of its consumers. European Union delegation to The agreement also strengthens reciprocity in access to public procurement and opens up new opportunities for many European companies, particularly in the railway sector. As others have already pointed out, this data agreement is not perfect, as recognition can be revoked unilaterally at any time. The ideal solution would have been to incorporate the data agreement into the Economic Partnership Agreement. Nevertheless, this is an important step forward, unlike other free trade agreements signed around the world in recent years. In the 21st century, data has become one of the most important raw materials and no discussion of free trade is truly complete without mentioning the free and secure flow of data between nations. The EU-Japan agreement is a model that can be replicated or improved by future agreements. The geographical indications provisions of this agreement protect many French products, including champagne and Roquefort cheese. 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] Analysis of new strategic, economic and digital agreements between the EU and Japan. EU-Japan trade: 1959, Japan`s ambassador to Belgium was accredited as Japan`s first representative to the European Communities (EU in 1993). However, the creation of a European delegation in Tokyo would last until 1974. The first ministerial meeting between the two parties took place in 1984 (the first summit was held in 1991). [5] On 8 December 2017, Japan and the European Union concluded an economic partnership agreement following an agreement in principle reached in July 2017. [6] The Economic Partnership Agreement between the European Union and Japan, signed on 17 July 2018, came into force on 1 February 2019. At a time of growing trade tensions, this agreement sends an important signal to support open and mutually beneficial global trade based on high standards. The EPA contains “a number of provisions that simplify negotiation and investment procedures, reduce export and investment costs and, as a result, allow more small businesses to trade in both markets. Expected benefits include increased transparency, less stringent technical regulation, compliance requirements, customs procedures and rules of origin, better protection of intellectual property rights and geographical indications, better access to tendering procedures and a specific chapter allowing SMEs to maximize the benefits of the EPA.” (Source: proposal for the conclusion of the Economic Partnership Agreement between the European Union and Japan – COM (2018) 192 final) One of the drawbacks of the EPA between the EU and Japan is why it was possible to conclude this agreement so quickly and without incident. In 2016, when the EU was about to sign its agreement with Canada, the Comprehensive Economic and Trade Agreement (CETA), it had a nasty surprise because the Walloon region was opposed to the agreement and threatened to block it.

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