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Thursday, 21 February 2019

Japan-EU: start of the free trade agreement

Japan-EU: start of the free trade agreement

New scenarios for trade between Europe and the Far East: the free trade agreement - EPA - signed last July following years of negotiations and ratified in December.

The agreement between the EU and Japan is in contrast with the protectionist pressures of other giants in the world economy, such as the US and China.

The new era of trade in fact provides for the elimination of the Japanese duties for 94% of agricultural and industrial products from the European Union and 99% of the European duties on Japanese products.

The Japanese government has estimated that the economic impact of the EPA is around 45.7 billion dollars more on the market. It is the largest ever agreement in the commercial field signed by the European Union.

For Italy this will have a strong impact on food but also for other sectors such as mechanics, pharmaceuticals, furniture and fashion. Excellent opportunities also for Italian jewelry companies.

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