EU-Japan FTA enters into force to create world's largest trade zone
- 5 years ago
A comprehensive free trade deal between the European Union and Japan came into force on Friday,… creating the largest free trade zone in history.
With a combined population of 640 million, …the Economic Partnership Agreement, or EPA, accounts for about a third of global GDP.
The deal will ultimately remove around 94 percent of tariffs that Japan applies to European goods, including agricultural products like cheese, wine and pork.
The EU will scrap 99 percent of tariffs on imports from Japan.
The pact will also encourage business investment and ensure the protection of intellectual property rights for both sides,… with hopes to serve as a counter to protectionism.
With a combined population of 640 million, …the Economic Partnership Agreement, or EPA, accounts for about a third of global GDP.
The deal will ultimately remove around 94 percent of tariffs that Japan applies to European goods, including agricultural products like cheese, wine and pork.
The EU will scrap 99 percent of tariffs on imports from Japan.
The pact will also encourage business investment and ensure the protection of intellectual property rights for both sides,… with hopes to serve as a counter to protectionism.