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EU pushes to hasten start of Japan trade deal

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BRUSSELS: The European Commission put forward a proposed free-trade agreement with Japan for fast-track approval on Wednesday, hoping to avoid a repeat of the public protests that nearly derailed a trade pact with Canada two years ago.


The European Union and Japan concluded negotiations to create the world’s largest economic area in December, signalling their rejection of the protectionist stance of US President Donald Trump. Now they want to see it go into force.


The agreement would remove EU tariffs of 10 per cent on Japanese cars and the 3 per cent rate for most car parts.


It would also scrap Japanese duties of some 30 per cent on EU cheese and 15 per cent on wines, and secure access to large public tenders in Japan.


The tariff reduction and removal would reduce by 1 billion euros ($1.24 billion) the cost of EU goods exported to Japan.


The Commission, which negotiates trade agreements for the EU, will present its proposals to the 28 EU members, along with another planned trade agreement with Singapore.


EU countries, the European Parliament, and the Japanese parliament will have to give their assent before the trade pact can start.


The Commission hopes leaders will sign the EU-Japan agreement at a summit in Brussels in June or July and that both deals will come into force by the middle of 2019, an ambitious deadline based on past experience. — AFP


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