EU-Japan Free Trade Agreement a milestone
On 1 February, the EU-Japan free trade agreement came into force. This agreement, formally called the Economic Partnership Agreement, creates the single biggest free trade zone in the world of over 600 million people and covering a third of global GDP and about 40 per cent of global trade. The agreement will provide benefits for both sides, including the removal of tariffs as well as dedicated actions to support trade and investments by small and medium-sized enterprises (SME).
This agreement has not only significant practical importance in supporting trade and investments, but it is also highly important as a symbol of the benefits of free trade and investments. In that spirit and with the same approach to removing tariff and non-tariff trade barriers, the German-Australian Chamber of Industry and Commerce is working with its members, our partner organisations and our government partners on the Australian, German and EU-side to achieve an Australia-EU Free Trade Agreement. A comprehensive Australia-EU FTA can remove the still existing tariff and non-tariff trade barriers that particularly affect SME such as companies from the German Mittelstand.
We expect significant progress on the Australia-EU FTA in 2019 and our Director of Policy Dr Michael Zettinig is happy to discuss your questions.
More via: ec.europa.eu