On 17 July 2018, Japan and the European Union (EU) signed an Economic Partnership Agreement (EPA) that will remove EU tariffs on Japanese cars as well as the vast majority of tariffs on imports of European meat, wine and dairy products. If the agreement is approved and implemented by the Japanese Parliament and the European Parliament, it opens up huge market opportunities for both parties: once registered with the REX, the EU company will be able to benefit from all the free trade agreements signed by the EU with third countries and not just with the agreement with Japan. Following today`s approval, CEPOL will be submitted to the National Parliament for approval. Within the EU, the European Parliament must approve the agreement on which it is expected to vote in the autumn of 2018. The aim is for the EPA to enter into force before the end of 2019. If a deal comes into force before the Brexit date of March 29, 2019, the EPA could automatically apply to the UK for a transitional period of about two years after March 2019. At a time of increasing protectionist pressure, the Japan-EU trade agreement sends a clear signal that two of the world`s largest economies oppose protectionism and are open and negotiated on the basis of fair rules and high standards for business. Learn more about exporting European food and drink to Japan as part of our EPA tax trade agreement? You can also visit the website of the Helpdesk European Commission – DG Commerce, which gives an overview of the specific provisions of the agreement. In principle, the agreement does not contain material provisions on the flow of personal data. There is a review clause under which both parties have committed to re-examine the issue after three years.
The chapter also includes the creation of a technical commission for all customs matters, to ensure consistency with the activities of the existing Joint Customs Cooperation Committee (under the EU-Japan Customs Agreement (CCMAAA). The chapter provides for joint meetings for these two committees. The competition chapter establishes a number of key principles that ensure that both parties are committed to maintaining comprehensive competition rules and the public authorities necessary to implement these laws in a transparent and non-discriminatory manner. The agreement also provides for continued cooperation between competition authorities. For other dairies, whey, whey and whey mermeat), the agreement provides for a duty-free tariff quota (TRQ) and a 70% reduction for whey products with specific protein content. The EPA BETWEEN the EU and Japan should boost trade in goods and services and create many opportunities for EU SMEs: tariffs on more than 90% of Japan`s imports from the EU will be abolished as soon as the EPA comes into force. This will cover a wide range of sectors: agriculture and food, manufactured goods (including textiles, clothing, etc.), as well as forestry and fishing. In addition, non-tariff barriers to motor vehicles, medical devices and „quasi-drug” sectors are expected to be significantly reduced. Finally, the agreement will facilitate the export of services to the Japanese market and will affect a considerable number of sectors, from telecommunications to postal services to the financial sector. Product-specific rules of origin (PSR). All SRSs have been agreed on the condition that they allow EU exporters to benefit from tariff reductions negotiated under the agreement.