The agreement also opens up services markets, including financial services, e-commerce, telecommunications and transport. It`s also… In the services sector with Japan, the EU recorded a surplus of 13 billion euros in 2018. The agreement also contains a full chapter on trade and sustainable development; sets the highest standards for work, safety, the environment and consumer protection; strengthens EU and Japan`s action on sustainable development and climate change and fully protects public services. Source: European Commission In the past, European companies have faced export barriers to Japan, which has sometimes made it more difficult for them to compete. The evolution of goods trade since 2000 has been characterized by a marked reduction in the EU-27 trade deficit with Japan, with Japan`s share of total EU imports increasing from 9.3% in 2000 to 3.6% in 2012. For more details, see table:[10] The agreement also strengthens reciprocity in access to public procurement and opens up new opportunities for many European companies, particularly in the rail sector. The EU and Japan meet regularly to discuss issues and best practices in implementing the agreement. This agreement opens up important economic opportunities and creates an area of nearly 600 million people representing nearly 30% of the world`s GDP. This agreement guarantees better access to the Japanese market and, therefore, new export opportunities for European and French producers, particularly those selling beef, pork, cheese, processed products, wines and spirits; Between 2009 and 2019, the EU`s trade deficit with Japan increased from 18 billion euros in 2009 to 2 billion euros in 2019. enable the EU to significantly increase its beef exports to Japan, while pork will be marketed duty-free and almost duty-free on fresh meat; EU-Japan relations are anchored in two documents: the 1991 Joint Declaration and the 2001 Action Plan for EU-Japan Cooperation. There is also a series of forums between the two, including an annual summit of heads of state and government and an inter-parliamentary body.

[1] The two sides have now agreed to work towards a comprehensive free trade agreement, which was discussed at the 42nd G7 Summit on 27 May 2016. Four agreements have been signed to date by both parties; [2] 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 EU has negotiated an economic partnership agreement with Japan. This agreement contains the main European principles of the right to regulation and high standards for environmental protection and work. It also includes obligations to comply with multilateral agreements and to ratify international labour organization (ILO) conventions.