EU and Japan agree in principle on trade deal | RetailDetail

EU and Japan agree in principle on trade deal

EU and Japan agree in principle on trade deal
Shutterstock

(content provided by EuroCommerce) After more than four years of negotiation, the EU and Japan have reached a political agreement in principle on an Economic Partnership Agreement during Japanese Prime Minister Abe’s visit to Brussels. 

Talks will continue

The agreement will eliminate tariffs on more than 90% of the EU’s exports to Japan. Tariffs on agricultural products will decrease substantially or will be abolished over time. The existing quote system for leather and shoes will be removed and tariffs on shoes will be cut from 30% to 21% at entry into force. There is also a mutual commitment to basing technical regulations on international standards. Cumbersome textile labelling rules were already aligned with international norms in 2015. 


EuroCommerce met representatives of the European Business Council last week to discuss the outcome of the negotiations, for which EuroCommerce have been pushing proactively for some years. However, negotiations have yet to be completed, and some chapters are some way from being so, including on regulatory cooperation and the general and institutional chapters, and most notably, investment protection. 


The EU has put its reformed Investment Court System on the table, while Japan prefers the old investor protection system. The trade talks will continue on a technical level until the end of the year. Considering the necessary ratification process the entry into force of the agreement is expected in early 2019.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

Retailhub Inspiration Tour: the customer journey becomes very different

09/07/2018

Thanks to Retailhub by RetailDetail, Antwerp has one more unique retail hot spot. Professionals can experience the future of retail in the Benelux' only retail inspiration platform, with 1250 sqm of innovative technology and huge trends.

Breakthrough in Karstadt-Kaufhof merger

05/07/2018

Canadian Hudson’s Bay and Austrian Sigma Holding have not reached a preliminary agreement about the merger of their respective department store chains Kaufhof and Karstadt: the Canadian company says it has only signed a letter of intent.

Alibaba CEO and Belgian PM discuss investment in Liège

04/07/2018

Alibaba founder Jack Ma has discussed a possible investment in Liège, Belgium with the country's prime minister Charles Michel. Afterwards no decisive statements were made by either party.

Toys "R" Us closes American stores amidst reboot hopes

02/07/2018

Final curtains for Toys "R" Us in the United States: all the stores have closed and 30,000 employees are laid off. Against all odds, some however still hope for a second life for the troubled chain.

“The biggest threat for department stores? Mismanagement!” (Maurizio Borletti, Chairman of Borletti Group)

28/06/2018

Are department stores a relic of the past, or do they contain seeds for the future of retail? That is the central question in our interview series ‘A love for department stores’, where we will discuss the challenges and opportunities for the business with a selection of leading voices in retail.

RetailDetail launches interview series 'A love for department stores'

28/06/2018

In collaboration with international retail expert Erik Van Heuven, RetailDetail sets out to explore the world of department stores. A series of interviews with entrepreneurs and managers will map the challenges and opportunities for the industry.