The Japan-EU FTA will come into force at the end of March 2019

According to diplomatic sources, Japan and the European Union are preparing for the signing of a Free Trade Agreement (FTA) at an annual summit held in Brussels, Belgium. The road to this FTA may come into effect in spring 2019.

Japan and the EU are considering holding a summit on July 11. If implemented, the above FTAs ​​will create one of the world's leading economic blocs and hope the two sides will emphasize the importance of free trade, in the context of a number of concerns. US trade protectionism. Based on negotiations completed in December 2017, Japan will lift tariffs on 94% of EU imports, including 82% of agricultural and fishery products. The move will likely bring down prices for European cheeses, pork and wines in the Japanese market, although farmers are concerned about the influx of imports into the "cherry blossom" market. . In return, the EU will eliminate tariffs on 99% of imports from Japan. The EU will lift tariffs on Japanese automobiles in the eighth year and TV receivers from Japan in the sixth year following the entry into force of the FTA. At the same time, the EU also lifted tariffs on Japanese sake and green tea. According to statistics, Japan-EU trade turnover is estimated at 125 billion euros (148.69 billion US dollars) a year. The EU and Japan now account for about 25% of the world's Gross Domestic Product (GDP).