The negotiations on the Japan-EU Economic Partnership Agreement (EPA) were held in Brussels, Belgium, from February 29 to March 4, 2016. This was the fifteenth round and has been agreed in the outline. The topic was put on a wide range of subjects such as trade in goods, trade in services, intellectual property rights, non-tariff measures, government procurement and investment.
Japanese People tend to perceive TPP (Trans-Pacific Strategic Economic Partnership Agreement) as the most important agreement for activation of Japanese economy, but they should focus more on the future of EPA between the EU and Japan.
The economic scale of the entire EU exceeds the one of the U.S. single market where people, goods, services and capital move freely can be seen as a great effect. If Japanese corporations set up and strengthen their foothold in the EU area, it could be surely meaningful.
Currently, the EU imposes export duties as 10% for motorcars and 14% for colour televisions on Japan. Japan demands its abolition to the EU. On the other hand, the EU demands of Japan to abolish export duties about agricultural produce and wine.
When it comes to wine, the difference of bottle size also became a focus. Japanese producers use the bottle of 720ml size in general, while the EU insists on the use of 750ml one. The EU expects that Japan meets their standards.
The schedule of the next round will be arranged accordingly, and the week of April 11 in Tokyo is currently under construction. The world is trying to cooperate with each country on the economic aspect. However, it is not by the whole world but by each area. AEC (ASEAN Economic Community) can be seen as one of the examples. This is also called “Asian version of the EU.” Although it does not have a single market such as euro-zone, its Gross Regional Product is more than 2,000,000 million dollars and working-age population is still huge. The current AEC is rather FTA (Free Trade Agreement) than a community, but its potential as a great economic effect is highly expected.
If this kind of partial cooperation is further promoted, how is the economic condition in the world going to be changed?
Anzu Imamura
economicpolicystudentscriticism 
I think trade cooperation will promote more active trade and strength the relationship among member states. However, it is not easy to reach a settlement when it comes to creating an FTA or EPA…
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I agree to your opinion. This is a very confusing problem…
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Good to bring the negotiations between japan en the EU to the forefront. And the example of the bottle makes it more realistic. You could improve the blog still by adding some links and improving the introduction. Make a relation between the subject and the blog.
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Thank you, Sir. I will try not to forget to add links.
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Very interesting topic! Especially the comparison with the TPP and the US market put the EPA’s significance into sharper perspective. In my opinion it will become all the more important to strengthen our ties with the Asian markets (and the AEC) in the coming years, so your blog is very timely. Keep up the good work!
– Timothy van der Venne
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Thank you! Yes, Asian market is getting bigger, so I think it is a wise way to cooperate between Asia and other big countries and strengthen their relationship.
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Thank you! Yes, I think it is a wise way to cooperate between Asia and other big countries and strengthen their relationship to promote economic growth effectively.
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Dear Economicpolicystudentscriticism,
Nice to read a blog that concerns the EU-Japan cooperation. The Japanese economy is fortunately trying to become even more international and therefore solid and fundamental cooperation with the global economic environment is needed. I am curious however to what extend you would stimulate a European, US or an Asian cooperation? Which continent is economically most important to Japan? I guess we will be able to conclude that in the near economic future!
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Thank you! I think the US is definitely a big partner in many things for Japan. However, many Japanese companies are now trying to reach not only Asian market but also European market. They judge what kind of products can be accepted to Europe.
For example, do you know MUJI? Its “simple concept” matches European lifestyle rather than American lifestyle.
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