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Morning – Strong mobilization for ratification of trade agreements with Japan

The European Commission has submitted to the Council the outcome of the negotiations on Economic Partnership Agreements with Japan. The aim is to accelerate the process of ratifying this partnership, considered as the largest bilateral trade agreement ever negotiated by the Union, before the entry into force in 2019.

The European Commission initiated the process on 18 April ratification of the Economic Partnership Agreement with Japan. This agreement, whose negotiations began between the two parties in 2013 and were completed by the end of 2047, are now awaiting approval by the Council and subsequently the European Parliament. The goal is for this partnership, which is considered the largest bilateral trade agreement ever negotiated by the European Union (EU), to come into force in 201

9. "With the step taken today, the way for companies and citizens of the Union opens that will start to exploit the potential of it Economic Partnership Agreement with Japan at the beginning of next year, says Jean-Claude Juncker, President of the European Commission. According to the Commission, the signing of a comprehensive and comprehensive trade agreement with this country will benefit exporters, workers and consumers in the Union. "The Economic Partnership with Japan will focus on a market of 600 million consumers and one third of the world's global GDP (EU + Japan, ED). Its economic potential is clearly unmatched, says Trade Minister Cecilia Malmström. Apparently, he added that the agreement with Japan will pave the way for "huge" business opportunities for both parties. It will eliminate the vast majority of customs, which cost EU companies exporting to Japan € 1 billion a year.

The agreement will also eliminate a number of existing barriers to trade. such as unnecessary repetition of testing and paperwork. It will open access to a 127 million strong Japanese market for EU's key agricultural products and increase the Union's export opportunities in a number of other sectors. The agreement opens service markets, especially financial services, e-commerce, telecommunications and transport. In addition, EU companies guarantee access to Japan's major public procurement markets in 48 major cities and eliminate barriers to procurement in the rail sector. It is also about transition periods before the opening of markets for the automotive industry. It should be noted that the Commission on 18 April to the Council to ratify the outcome of the negotiations on trade and investment agreements with Singapore. They are the first bilateral agreements with a member of the Association for South-East Asian Nations (ASEAN). In Asia, Singapore is by far the Union's largest trading partner with a total bilateral trade volume of EUR 53.3 billion (2017) and EUR 44.4 billion for services (2016).

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