EU and Japan Moving Forward with Historic Free Trade Agreement

Posted by Nick Boland on Tue, Jul, 25 2017 @ 1:56 PM

After four and a half years of negotiation, it is looking increasingly likely that the EU-Japan Economic Partnership Agreement (EPA) will be concluded toward the end of 2017. Successful meetings in April and July, backed by strong supporting messages from both sides, means that this landmark deal will create an agreement that aligns two economies accounting for more than a third of the world’s Gross Domestic Product (GDP).

To add some scale to what that translates into, there are about 74,000 EU companies that export to Japan (source: eu.europa.com) paying in excess of €1 billion per year in tariffs, along with some 600,000 jobs supported by EU trade with Japan.

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Topics: Duty Management, Free Trade Agreements