Japan, EU to hold summit tomorrow

> Leaders hope to sign deal to send ‘strong signal’ in favour of free-trade agreements to the US

BRUSSELS: The European Union (EU) and Japan will hold a summit meeting tomorrow expecting to reach a “political agreement” on a trade deal after four years of negotiations, the EU announced yesterday.

“EU-Japan Summit tomorrow. Ambitious free and fair trade deal in the making,” European Council President Donald Tusk tweeted.

“At the summit, leaders are expected to announce a political agreement on the EU-Japan free trade agreement and the EUJapan strategic partnership agreement,” a statement said separately.

The meeting will be attended by Tusk, EU Commission chief Jean-Claude Juncker and Japanese Prime Minister Shinzo Abe.

After four years of negotiations, the two sides are working toward signing a deal ahead of the G20 in Hamburg at the weekend, hoping to send a “strong signal” in favour of freetrade agreements that contrasts with US President Donald Trump’s protectionist “America First” stance.

Trump, who will also attend the G20, pulled the US out of the Trans-Pacific Partnership this year, dealing a possibly fatal blow to the mooted 12-nation deal.

At this stage, the EU and Japan are expected to reach only a “political agreement” on the trade deal, which would then be formally signed at the end of autumn.

EU Trade Commissioner Cecilia Malmstroem and Agriculture Commissioner Phil Hogan visited Tokyo last week for two days of urgent talks with Japanese officials, while Japanese Foreign Minister Fumio Kishida is expected in Brussels for final negotiations today.

He described the talks as “very tough” but expressed his “firm determination” to reach an overall agreement.

Last week, Malmstroem said the package would “tear down almost all customs duties between us that are worth a lot of money, billions actually”.

EU exports to Japan overall “could be boosted by one third” and a deal would send a “strong signal to the rest of the world that the EU and Japan believe in free trade,” she said.

Tariffs on European cheese have been a key sticking point in the talks.

Brussels wants Japan to eliminate its 30% tariffs on some EU-made cheese, while Tokyo wants duties cut on cars, which it exports to the 28-member bloc.

The EU and Japanese economies combined account for some 28% of global output. – AFP