Jefta Free Trade Agreement

She led negotiations to salvate a Pacific trade agreement – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – after the US withdrew. Japanese Prime Minister Shinzo Abe said last year he hoped the free trade agreement would be “an economic model within the international community in the twenty-first century.” However, some warnings indicate that the UK could lose its advantages if it leaves the EU without a deal. The negotiations are over. At present, only ratifications have not yet been ratified. The trade regimes are expected to enter into force in late 2019/early 2020. The European Union has adopted strict laws on the protection of its citizens` data. However, Japanese companies want access to this data. The European Commission knows that this issue is controversial because European citizens want to protect their data. This is why the Commission has proposed to deal separately with the digital trade chapter of the agreement, as well as the controversial investment element. This way, it will be easier to adopt JEFTA and the separate chapter can be simply added later.

In the past, European companies have faced barriers to trade when exporting to Japan, which has sometimes made it difficult for them to compete. The European food sector will be one of the main beneficiaries of JEFTA: Japanese customs duties on hard cheeses such as Parmigiano Reggiano, Gouda and Cheddar (taxed at almost 30%) will be phased out and a duty-free quota will be introduced for fresh cheeses such as mozzarella. Taxes on wines (15%) and other alcoholic beverages were abolished as of 1 February. JEFTA will also open the trade in processed foods such as pasta, chocolate, confectionery and biscuits. It has already been reported that many businesses in Japan have reduced the prices of items exported from the EU, such as wine and cheese. This will facilitate Japanese consumers` access to these items and should help increase the consumption of European products. In addition, Japan previously had complex and difficult customs rules, which dissuasive for EU exporters. Jefta has changed all this and should allow importers and exporters to trade better. The Japanese government has promised to negotiate an ambitious new free trade agreement with London, but only when the future relationship between Britain and the EU has been established. As part of the central economic part of the negotiations, the EU insisted on the elimination of non-tariff barriers, better access to agricultural and services markets and better access to public procurement in Japan.

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