Monday, October 26, 2020

EU Parliament approves major trade agreement with Japan

Featured

Belarus: Opposition leader in quarantine after coming into contact with an infected

The leader of the Belarusian opposition, Svetlana Tikhanovskaya, announced that she is currently under quarantine after her contact with...

50 million Americans voted by mail in the presidential election so far

More than 50 million Americans cast their ballots in the US presidential election by mail 11 days before the...

GIP releases inaugural annual report at second plenary meeting

The Second Plenary Meeting of the Green Investment Principles for the Belt and Road (GIP) was held today in...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

The European Parliament on Wednesday approved an agreement with Japan, described as the world’s largest trade agreement covering economies representing one-third of the world’s gross domestic product (GDP).

The agreement will enter into force in February and was seen as a victory for Europe as a champion of free trade in the face of US President Donald Trump’s protectionism and Britain’s decision to leave the EU.

“Our economic partnership with Japan – the largest trade area to be negotiated – is very close to becoming reality, ” EU Trade Commissioner Cecilia Malstrom said.

The parliament voted 474 to 152 in favor.

“We are showing that we prefer open and organized trade, ” said Malstrom

The EU-Japan Economic Partnership Agreement covers 630 million people, and economies account for about a third of world production. It has been under discussion since 2013.

When it comes into force, the agreement will regulate almost all trade between the giant Asian country and EU countries, and will benefit European farmers in particular, Malstrom said.

When the agreement is fully implemented, about 85% of the EU’s agricultural products will be duty-free for export to Japan, while the remaining products will be reduced.

In return, the Japanese will have free access to the European car market after a transitional period of several years.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest News

Belarus: Opposition leader in quarantine after coming into contact with an infected

The leader of the Belarusian opposition, Svetlana Tikhanovskaya, announced that she is currently under quarantine after her contact with...

50 million Americans voted by mail in the presidential election so far

More than 50 million Americans cast their ballots in the US presidential election by mail 11 days before the start of the race, a...

Remains of ships sunk hundreds of years ago discovered in Utbury, Sweden

Archaeologists in Sweden have discovered the remains of small, sunken ships dating back 400 years ago, during excavations in central Gothenburg in the coastal...

New York authorities preparing for possible riots after the election

New York City Mayor Bill de Blasio announced that the major American city authorities are preparing for possible unrest and riots in the city...

Trump: 180 million Americans would miss health care plans if Biden came to power

US President Donald Trump did not stop attacking his rival in the US presidential election, Democratic candidate Joe Biden, sending a message to Americans,...

Related News