Japan Eu Trade Agreement Text

In order to support eu-Japan trade relations, a number of informal bilateral dialogues and other specific initiatives have been put in place: this trifecta of agreements significantly improves EU-Japan relations and has global implications. While geography has divided them, common values and principles have brought the EU and Japan closer together and defended these values together. Less than a decade ago, Japan and the European Union were seen as protectionist and the chances of them signing a Comprehensive Free Trade Agreement (FTA) were slim. However, Japan and the EU surpass the world`s largest free trade agreement, surpassing both the agreement between the United States, Mexico and Canada and the comprehensive and progressive agreement for the Trans-Pacific Partnership (CPTPP) in terms of gross domestic product (GDP). The EPA BETWEEN the EU and Japan does not only link two economies worth nearly $25 trillion; it sets the standards for 21st century trade agreements. European Union delegation to Japan: eeas.europa.eu/delegations/japan/56981/eu-japan-economic-partnership-agreement-epa_en Vera Jourova, European Commissioner for Justice, Consumers and Gender Equality, stressed that “data is the fuel of the global economy and that this agreement will allow data to travel safely between us and our economies.” As the European Commission has said, the two sides reaffirmed through this agreement that in the digital age, the promotion of high standards of data protection and data protection and the facilitation of international trade must and can go hand in hand. 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. In the past, European companies have faced trade barriers by exporting to Japan, which sometimes made them more difficult to compete with. The EPA and the Strategic Partnership Agreement (SSC) were launched in 2011, shortly after the tragedy of the great earthquake in eastern Japan.