GERMANY, Berlin. Japan is one of Germany's most important trading partners in Asia. Conversely, Germany is the island state's most important partner country in Europe. Since 2009, the volume of trade has grown steadily and amounted to around € 42.4 bn. in 2017. The EU not only has a strong G7 partnership with Japan, but also good economic relations and a growing community of values.
The Free Trade Agreement between the EU and Japan, which came into force on 1 February 2019, is intended to strengthen economic and political relations between these two important trading areas as well as the EU's general role in Asia.
The agreement removes a large part of the tariffs and a number of long-standing regulatory barriers. The Japanese market of 127 mill. consumers will open up to important EU agricultural products (e.g. wine, cheese, beef and pork) and increase EU export opportunities in many other sectors.