EU approves trade agreement with Japan
Tokyo … News Time
EU member countries have approved a comprehensive trade agreement with Japan. The agreement of this economic partnership agreement will be held on February 1. This compromise covers about 30% of global gross production, GDP and about 40% worth of global trade. The European Union approved its agreement on Thursday in its meeting. Japan’s parliament ratified the agreement earlier this month. Japan will eliminate its 94% imports from the EU under this agreement while the EU will end up production on 99% imports from Japan. Both parties will also open their own markets in the fields like investment and services. Japan’s exports will increase by 34% under the agreement according to EU estimates as a result, the EU’s overall production; GDP will increase by about 0.8 percent.
