A Free Trade Agreement between the EU and Japan
EU News 152/2013
25 March 2013
The EU and Japan today officially launched the negotiations for a Free Trade Agreement (FTA). The aim is for a comprehensive agreement in goods, services and investment eliminating tariffs, non-tariff barriers and covering other trade-related issues, such as public procurement, regulatory issues, competition, and sustainable development.
The first round of negotiations will be held in Brussels from 15 to 19 April 2013.
Japan is the EU's 7th largest trading partner globally and the EU’s 2nd biggest trading partner in Asia after China. Conversely, the European Union is Japan’s 3rd largest trading partner, after China and the United States. Together the European Union and Japan account for more than one third of world GDP.
An agreement between the two economic giants is expected to boost Europe’s economy by 0.6 to 0.8 % of its GDP and will result in growth and the creation of 400.000 jobs. It is expected that EU exports to Japan could increase by 32.7%, while Japanese exports to the EU would increase by 23.5%.
Source and additional information:
Karel De Gucht Date: 02/03/2013 Reference: P-022749/00-04 Location: Cambridge [Massachusetts] - Harvard University (C)EU, 2013 URL