With the Welsh Secretary Alun Cairns suggesting new global markets, including in Japan, will be available to sheep meat producers in Wales after Brexit we have taken a fresh look at the EU-Japan Economic Partnership Agreement to help farmers and the public better understand the debate. The agreement between the EU trading block and Japan has provided all EU member states, including the UK, the opportunity to expand their trade with Japan.
Here’s what we wrote about the agreement back in February:
On the 1 February 2019 the EU-Japan Economic Partnership Agreement entered into force. It will create an open trading zone covering 635 million people and almost one third of the world’s total GDP. The Strategic Partnership Agreement is the first ever bilateral framework agreement between the EU and Japan. It will remove the vast majority of the €1 billion of duties paid annually by EU companies exporting to Japan, as well as a number of long-standing regulatory barriers, for example on car exports. It will also open up the Japanese market of 127 million consumers to key EU agricultural products and increase EU export opportunities in many other sectors. In addition, the agreement will strengthen cooperation between Europe and Japan in a range of areas, reaffirm their shared commitment to sustainable development, and include for the first time a specific commitment to the Paris climate agreement.
A video about the agreement is available Here.