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EU-Japan FTA to boost strategic and economic partnership

6 Jul 2017
Trade & External Affairs

The American Chamber of Commerce to the EU (AmCham EU) welcomes the agreement in principle on the EU-Japan Free Trade Agreement (FTA) and calls for its conclusion and ratification.

The EU and Japan are key trading partners and together account for more than one-third of the world’s GDP. This FTA is a golden opportunity not only to dismantle tariffs, but also to create a level playing field in public procurement, address non-tariff barriers (NTBs), increase access to services and investment, and enhance regulatory cooperation to the benefit of businesses and consumers.

The CJEU’s recent ruling on the EU-Singapore FTA brought further clarity on the ratification of FTAs, including the EU-Japan FTA. Once the final details of the agreement have been ironed out, a pragmatic solution should be found to ensure a quick ratification and effective implementation.

In challenging times for trade policy, the strategic value of the EU-Japan partnership has never been clearer. Today’s political agreement represents an important signal from two of the largest and most advanced economies in the world, that trade can deliver for all and remain an engine of economic growth and job creation.

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