This agreement opens up important economic opportunities and creates an area of nearly 600 million people representing nearly 30% of the world`s GDP. In the services sector with Japan, the EU recorded a surplus of 13 billion euros in 2018. The geographical indications provisions of this agreement protect many French products, including champagne and Roquefort cheese. According to customs data, Japan exported more than 1.5 trillion yen ($14.1 billion) to the UK and imported 887 billion yen from the UK in 2019. The new trade pact is particularly good for Japan because it will avoid raising tariffs. 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: From 2009 to 2019, the EU`s trade deficit with Japan increased from 18 billion euros in 2009 to 2 billion euros in 2019. This agreement is particularly beneficial for French farmers and exporters: Japan is France`s sixth largest trading partner outside the European Union. Around 8,000 French companies are already exporting there, many for the first time exporters, and selling more than 6 billion euros worth of goods.
The Japanese market offers considerable potential for French products due to its size and the high standards of its consumers. European Union Delegation to Japan: eeas.europa.eu/delegations/japan/56981/eu-japan-economic partnership-partnership-partnership-epa_en On 17 July 2018, the European Union and Japan signed an Economic Partnership Agreement (EPA), the largest trade agreement ever negotiated by the EU, which will create an open trade area of more than 600 million people. TOKYO — Japan and Britain will sign a free trade pact, possibly until September, the Nikkei has learned. This will be the UK`s first trade agreement with a major country since leaving the EU and will serve as a model for negotiations with other countries. Among the speakers was Mr. Jean Lemi?re, President of the MEDEF OMC Commission for Access to the External Market and advisor to the President of BNP Paribas; Adrian van den Hoven, Director of International Affairs of the European Economy; Jean-Marie Paugam, Deputy Executive Director of the International Trade Center (ITC); Denis Redonnet, Head of WTO Unit, DG Trade, European Commission; And Dr. Patrick Messerlin, Director, GEM, and Professor of Economics, Sciences Po. Topics included each country`s position on the TPP, as well as the impact of the TPP and other important free trade agreements on world trade and European businesses. The EPA/EIE between the EU and Japan was also at the top of the agenda.
Traditional trade relations between the EU and Japan were once characterized by large trade surpluses in favour of Japan. Discover the current trade relationship between the EU and Japan ec.europa.eu/trade/trade-policy-and-you/in-focus/exporters-stories/#p=#filter-partners-Japan&c – The agreement also leads to greater reciprocity in access to public procurement and opens up new opportunities for many European companies, particularly in the rail sector. In order to support trade relations between the EU and Japan, some informal bilateral dialogues and other specific initiatives have been put in place: to learn more about the export of European food and drink to Japan as part of our EPA fiscal trade agreement? The EU has negotiated an economic partnership agreement with Japan. Food trade statistics:ec.europa.eu/info/sites/info/files/food-farming-fisheries/farming/document/agrifood-japan_en.pdf On 8 and 9 March, the Japanese Foreign Trade Organisation (JETRO) organised a seminar in Brussels and London, the EU-Japan Business – Future visions of EU-partnership Japans for economic growth.