Why has the EU negotiated a trade deal with Japan?

Why has the EU negotiated a trade deal with Japan?

It’s the largest-ever trade deal the EU has negotiated with any country. After final approval by the EU Member States and European Parliament, expected in 2018, it will boost Europe’s commerce with the world’s third-largest consumer market.

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The Economic Partnership Agreement reached in December 2017 ‘’is a clear signal to the world that the EU and Japan are committed to keeping the world economy working on the basis of free, open and fair markets,’’ said European Commissioner for Trade Cecilia Malmström and Taro Kono, the Japanese Foreign Minister.

With the EU and Japan making up nearly a third of the world’s GDP, the trade deal ‘’will deliver sustainable and inclusive economic growth and spur job creation, while at the same time confirming our commitment to the highest level of labour, safety, environmental and consumer protection standards and fully safeguarding public services,’’ they said in a joint statement.