The EU and Japan will sign the Free Trade Agreement

Submitted by bashun on Fri, 12/15/2017 - 10:58

On December 8, 2017 ended the negotiations on the Free Trade Agreement between the EU and Japan. The agreement on economic partnership includes the overwhelming majority of trade operations between countries, and also abolishes a number of ancient regulatory barriers amounting to 1 billion euros.

According to the Treaty, mandatory duties are imposed on cheeses, such as Gouda and Cheddar (with a shipment of 29.8%), and wine exports (an average of 15%). In addition, the volume of beef exports to Japan will increase substantially, duty-free trade in pork, processed and fresh meat. The agreement also opens up service markets, including financial, electronic commerce, telecommunications and transportation.

Welcoming the agreement, Trade Commissioner Cecilia Malmström said: "The EU and Japan share a common vision of an open and unshakable world economy that guarantees high standards. The potential of this agreement is huge and I'm glad that the EU and Japan agreed to sign an agreement next year. Thus, companies from the EU, workers and consumers will be able to take advantage of the agreement as soon as possible."
 

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