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Syed Kamall: The EU-Japan trade deal set to boost growth

12 December 2018

Syed Kamall: The EU-Japan trade deal set to boost growth

The trade deal between the EU and Japan has been approved by the European Parliament in Strasboug today. CR Co-chairman Syed Kamall has welcomed the vote as an important step in the ratification process of the deal which is now expected to come into force early next year.

The trade deal between the EU and Japan has been approved by the European Parliament in Strasboug today.

ECR Co-chairman Syed Kamall has welcomed the vote as an important step in the ratification process of the deal which is now expected to come into force early next year. Kamall, who has followed the agreement for the ECR Group, said after the vote:

“The EU-Japan trade deal is not only good news for the EU member states, but also for those on the global scene who remain committed to rules-based trade and to deepening the alliance against protectionist policies.

“This is the largest bilateral trade deal ever concluded by the EU, covering close to 30 % of global GDP. It is estimated to increase the EU’s GDP by 0.14 % and total exports to Japan by EUR 13 billion by 2035. No EU sector is expected to experience a significant loss, and there will be considerable gains for the agri-food, textiles and leather sectors.

“Some Japanese technical requirements and certification procedures often make it difficult to export safe European products to Japan. The agreement will go a long way in boosting the access of EU companies to the highly regulated Japanese market. This agreement eliminates important non-tariff barriers such as certification, labelling, and health and safety regulations, on motor vehicles, medical devices and textiles, to mention a few sectors.”​

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