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News

EU-Japan FTA finalised

20/12/2017 - François-Xavier Branthôme - Lire en français
EU agri-food to 'benefit most' from trade deal with Japan

EU trade commissioner Cecilia Malmström and Japanese Foreign Minister Taro Kono revealed in a press conference in early December that the final discussions on the EU-Japan Economic Partnership Agreement have been concluded; the process of writing the legal text and negotiating the "last details" has been finalised.
Malmström explained: "The EU and Japan share a common vision for an open and rules-based world economy that guarantees the highest standards. Today, we are sending a message to other countries about the importance of free and fair Trade, and of shaping globalisation. The potential of this deal is enormous."
Europe's food sector is expected to be a chief beneficiary of the new trading relationship with Japan. The agreement will provide European food exporters with access to Japan's 127m consumers; Japan has also agreed to recognise Europe's system of Geographical Indications (GIs). This is considered a key priority for European negotiators working on international trade deals.

The deal will now be submitted to the European Parliament and Member States for ratification. The EPA is expected to come into effect next year.

(See also our article on Far East market, 01/12/2017)

Sources: FoodNavigator
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