Eu Free Trade Agreement With Japan
Japan and the EU are members of the Economic Partnership Agreement between the European Union and Japan (EPA), the world`s largest open economic area[3], which covers one third of the global economy since 1 February 2019. [4] Japan is the 6th largest export market in the EU (3.3% in 2018, with a value of €64.75 billion). EU exports are mainly machinery and vehicles (31.3%), chemicals (14.1%) and agricultural products (11.0%). Despite the increase in EU exports worldwide, EU exports to Japan have decreased slightly since 2006. In 2009, the global financial crisis caused exports to fall by 14.7 per cent; However, in 2010, they rebounded by 21.3%. Japan is also the 6th largest source of imports into the EU (3.6% in 2018, with a value of €70.47 billion). [9] Japanese exports to Europe are mainly machinery and means of transport (66.7%). The EU is Japan`s third largest trading partner (11.1% of imports, 13.3% of exports). This would require a clear definition of investment protection standards, preserving the right of governments to regulation and allowing for the participation of a transparent investment court.
The tribunal would establish publicly appointed judges and have an appeal mechanism. Significant progress has been made in the negotiations on the establishment of standards of protection and on provisions to respect the right to regulation. With regard to investor-state dispute settlement, no agreement has yet been reached. That is why negotiations are continuing with Japan for a separate agreement on investment standards and investment dispute settlement. . . .
