
The European
Union and Japan continued their negotiations for a Free Trade Agreement in a
third round discussions this week in Brussels.
The negotiations focussed
on discussing each side's proposals for the text of the future FTA in all areas
of the trade agreement – from market access for goods and services to
investment, non-tariff barriers and the further opening of the Japanese public
procurement market. An agreement between the two economic powerhouses is
expected to boost Europe's economy by 0.6 to 0.8% of its GDP and may create up
to 400.000 jobs. It is expected that EU exports to Japan could increase by
32.7%, while Japanese exports to the EU would increase by 23.5%. The next round
of negotiations will take place in early 2014.