On February 1, 2019, the Economic Partnership Agreement (EPA) between the European Union (EU) and Japan entered into effect.
According to the European Commission, the EPA “…removes the vast majority of the €1 billion of duties paid annually by EU companies exporting to Japan.”
Some key parts of the EPA include:
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Remove Japanese duties on many types of cheeses and wine exports;
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Allow the EU to increase beef exports to Japan;
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Ensure the protection in Japan of European agricultural products;
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The opening of service markets such as financial services, e-commerce, telecommunications and transport;
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A comprehensive chapter on trade and sustainable development.
The EU and Japan will hold a meeting in April, 2019 to assess the first few months after implementation.
The European Commission press release may be found here:
http://europa.eu/rapid/press-release_IP-19-785_en.htm
