EU agri-food exports change
Jul 18, 2018 9:14 am
Free trade (agri-food) with a market of 600 million people. How the business orientation changes towards Eurasia
The EU-Japan Summit in Tokyo between Presidents Jean-Claude Juncker, Donald Tusk and Japanese Prime Minister Shinzo Abe, ended today with the EU-Japan Economic Partnership Agreement (Ape). This is the largest trade agreement ever negotiated by the EU, which allows for the creation of a free trade area comprising more than 600 million people. These are the main consequences for agricultural exports from the EU (with a consequent realignment of trends towards Eurasia). The ratified agreement, in fact, has immediate repercussions on many agricultural products and will also change the geography of European exports. Italy, on the eve of the OCM for the period 2019/2020, will have to take note of the agreement in particular for the consequences it will have on wine, shifting the focus of many initiatives from Australia (and USA) to Japan. in fact, the agreement envisages eliminating the Japanese duties on wine (currently 15% on average). Along with wine, many cheeses (currently 29.8% of them). The agreement also allows the EU to substantially increase its beef exports to Japan and as regards pork, trade will be duty-free for processed meat and almost duty-free for fresh meat. . Finally, the agreement itself guarantees the protection in Japan of over 200 high quality European agricultural products, the so-called geographical indications (GIs). The agreement also opens to the services markets, in particular financial services and electronic commerce. The agreement will now have to be ratified by the European Parliament and the Japanese diet. It will take effect in January 2019.
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