Eu Japan Association Agreement

Among the speakers was Mr. Jean Lemi?re, President of the MEDEF OMC Commission for Access to the External Market and advisor to the President of BNP Paribas; Adrian van den Hoven, Director of International Affairs of the European Economy; Jean-Marie Paugam, Deputy Executive Director of the International Trade Center (ITC); Denis Redonnet, Head of WTO Unit, DG Trade, European Commission; And Dr. Patrick Messerlin, Director, GEM, and Professor of Economics, Sciences Po. Topics included each country`s position on the TPP, as well as the impact of the TPP and other important free trade agreements on world trade and European businesses. The EPA/EIE between the EU and Japan was also at the top of the agenda. The Economic Partnership Agreement between the European Union and Japan, signed on 17 July 2018, came into force on 1 February 2019. At a time of growing trade tensions, this agreement sends an important signal to support open and mutually beneficial global trade based on high standards. The entry into force of the EPA would have been a remarkable achievement. But the EU and Japan are also celebrating a strategic agreement and a digital agreement that supports the EPA. The EU and Japan introduced the EPA and the G.S.O.

in July 2018, after lengthy discussions that lasted nearly five years. The EPA should only provide the parties with an economic advantage of free trade and investment between the EU and Japan. Japan estimates that the EPA would increase real GDP by about 1%. The EU estimates that the reduction in tariffs and non-tariff measures would increase around 0.14% of real GDP and EU exports to Japan would increase by around EUR 13 billion. On the other hand, the BSG defines a global framework listing 40 areas of cooperation, and the objective described in the agreement is more abstract. There may therefore be questions as to whether the EA is some kind of ceremonial document in which both parties can see a different future, but have given priority to signing at the same time as the EPA. Nevertheless, it should be noted that this CSM has specific characteristics that can lead to a fundamental change in relations between the EU and Japan. Moreover, the agreement has the potential to mark a historic turning point in the dynamics of ue-Japan relations and their presence in the international community for the two main reasons described below. It also includes obligations to comply with multilateral agreements and to ratify international labour organization (ILO) conventions.

The EPA BETWEEN the EU and Japan should boost trade in goods and services and create many opportunities for EU SMEs: tariffs on more than 90% of Japan`s imports from the EU will be abolished as soon as the EPA comes into force. This will cover a wide range of sectors: agriculture and food, manufactured goods (including textiles, clothing, etc.), as well as forestry and fishing. In addition, non-tariff barriers to motor vehicles, medical devices and «quasi-drug» sectors are expected to be significantly reduced. Finally, the agreement will facilitate the export of services to the Japanese market and will affect a considerable number of sectors, from telecommunications to postal services to the financial sector.