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Boost to EU export with EU-Japan trade agreement

Approved by the European Parliament in December 2018, the EU’s landmark trade agreement with Japan will enter into force on 1 February 2019.

The agreement removes tariffs on about 97 percent of EU exports and also eliminates non-tariff barriers such as a safety clause that has banned European train makers from entering the Japanese market.

The deal is particularly beneficial for EU agri-food exporters, which will benefit from a reduction to high Japanese duties, including cuts of up to 40 percent on beef and cheese.

Tokyo will also recognise and protect 205 iconic European food names, such as French Brie de Meaux and Italian Prosciutto di Parma.

European Trade Commissioner Cecilia Malmström said this trade deal would boost EU exports to the Asian country by an additional €13 billion.

This article was posted on January 14th, 2019 by Katsiaryna Kliuyeva under News