EU, Japan Progress With Trade Talks
30/10/2013 71
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The European Union (EU) and Japan have held a third round of negotiations toward a free trade agreement (FTA) that is expected to boost Europe's economy by up to 0.8 percent.
The round focused on an analysis of each side's proposals for the FTA's text. Discussions took place in a number of working groups, covering topics such as trade in goods and services, technical barriers to trade and non-tariff measures, rules of origin, customs and trade facilitation, investment, procurement, competition, and intellectual property, among others.
The talks are based on the outcome of a joint scoping exercise, completed in May, 2012. Both parties committed to an ambitious trade liberalization agenda, and so-called 'roadmaps' have been set for the removal of non-tariff barriers and the opening up of public procurement in the Japanese railway and urban transport markets.
It is thought that a successful FTA could increase EU exports to Japan by 32.7 percent. Japanese exports to the EU are predicted to rise by 23.5 percent.
The next round of negotiations is scheduled for early 2014.
Source: Tax News
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