EU-Japan Economic Partnership Agreement
EU and Japan reach agreement in principle on Economic Partnership Agreement
The European Union and Japan have reached today an agreement in principle on the main elements of an Economic Partnership Agreement.
This will be the most important bilateral trade agreement ever concluded by the EU and as such will for the first time include a specific commitment to the Paris climate agreement.
For the EU and its Member States, the Economic Partnership Agreement will remove the vast majority of duties paid by EU companies, which sum up to €1 billion annually, open the Japanese market to key EU agricultural exports and increase opportunities in a range of sectors. It sets the highest standards of labour, safety, environmental and consumer protection, fully safeguards public services and has a dedicated chapter on sustainable development. It also builds on and reinforces the high standards for the protection of personal data that both, the EU and Japan, have recently entrenched in their data protection laws.
The Economic Partnership Agreement will increase EU exports and create new opportunities for European companies, big and small, their employees and consumers.
The value of exports from the EU could increase by as much as €20 billion, meaning more possibilities and jobs in many EU sectors such as agriculture and food products, leather, clothing and shoes, pharmaceuticals, medical devices and others.
Based on today's agreement in principle, negotiators from both sides will continue their work to resolve all the remaining technical issues and conclude a final text of the agreement by the end of the year.
Related links
Press release - EU - Japan Summit: leaders give green light to landmark economic and strategic partnership agreements [PP nr. 566]
24th EU-Japan Summit Joint Statement
Statement by Prime Minister Abe, President Tusk and President Juncker on North Korea
Joint Declaration by President Juncker and Prime Minister Abe on data protection [PP nr. 563]
Remarks of Commission President Jean-Claude Juncker at the joint press conference
Press Release: EU and Japan reach agreement in principle on Economic Partnership Agreement [PP nr. 558]
Memo: Key elements of the EU-Japan Economic Partnership Agreement [PP nr. 559]
More information on the EU-Japan Free Trade Agreement (DG Trade website)
Press Release: EU-Japan Strategic Partnership Agreement given green light at Summit in Brussels