The EU and Japan trade deal celebrates second anniversary by further strengthening ties
The 1st of February marks the second anniversary of the EU-Japan Economic Partnership Agreement (EPA). The Joint Committee established under the Agreement, co-chaired by Executive Vice-President Valdis Dombrovskis and Japanese Minister of Foreign Affairs Toshimitsu Motegi, celebrates this anniversary by agreeing important improvements to the Agreement. Each side will see 28 additional Geographical Indications (GIs) protected and wine and vehicle trade between the two sides will become even easier than before. Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, said: “The EU-Japan Economic Partnership Agreement is one of our most important deals. Together, the EU and Japan make up for a quarter of the world’s GDP and our bilateral trade reaches some €170 billion a year. This deal has made trading easier and cheaper for both EU and Japanese producers; it has helped farmers and manufacturers alike. Our strong cooperation is now bearing even more fruit, with 28 more traditional quality agri-food products now protected from imitation. We are also facilitating trade for wine and cars, two key sectors. This is very welcome as we work to rebuild economic growth following the COVID-19 pandemic. But the EU-Japan relationship goes beyond bilateral trade. We both stand for rules based, open global trade and a strong World Trade Organization.” Commissioner for Agriculture, Janusz Wojciechowski, said: “This agreement is a great example of trade benefitting both sides as a result of mutual trust and close cooperation, in particular for the agri-food sector. I thank Japan for a continuously constructive and fruitful dialogue. This deal is very positive for Japanese and European farmers and will continue to be. After only two years since the entry into force of the agreement, an extra 28 geographical indications on both sides are now protected in our respective markets. These products have real added value, reflecting authenticity and quality, while further rewarding our farmers. In addition, thanks to the recent Japanese authorisation for wine practices, our European wine producers will now be able to benefit from increased export opportunities. Remember – good food is good business!” A press release is available here.
Read the European Commission Daily News in full here.