Free Trade Agreement (FTA) and Economic Partnership Agreement (EPA)
The Fifth Meeting of the Japan-EU EPA Joint Committee
July 16, 2024
On July 16, from 6:45 p.m. local time (July 17, 1:45 a.m. in Japan), during their visit to Italy to attend the G7 Trade Ministers' Meeting, Ms. KAMIKAWA Yoko, Minister for Foreign Affairs of Japan, and Mr. Valdis DOMBROVSKIS, Executive Vice President of the European Commission for an Economy that Works for People, European Commissioner for Trade, co-chaired the fifth meeting of the Joint Committee established under the Japan-EU Economic Partnership Agreement (EPA).
- At the outset, Minister Kamikawa expressed her pleasure at meeting again so soon after the Japan-EU High-Level Economic Dialogue in May, and welcomed the steady implementation of the Japan-EU EPA in various fields as it reached its 5th anniversary. Executive Vice President Dombrowskis referred to the EPA’s successful implementation. Both sides also welcomed the entry into force on July 1 of the Protocol amending the Japan-EU EPA on the free flow of data.
- The co-chairs discussed ensuring the appropriate and effective implementation of the Japan-EU EPA.
- Minister Kamikawa requested the EU to carefully explain and respond to businesses about its advanced regulations from the viewpoint of continued development of trade between Japan and the EU. She emphasized the need to listen to stakeholders including Japanese companies, and to take appropriate measures especially on the Packaging and Packaging Waste Regulation (PPWR), Regulations on Fluorinated Greenhouse Gases, and the Carbon Border Adjustment Mechanism (CBAM).
- Minister Kamikawa also highlited that she would like to continue communicating with the EU regarding investment protection, given the significance of investment expansion for the economic development of both Japan and the EU.
- In addition, the co-chairs confirmed developments in areas such as Sanitary and Phytosanitary Measures (SPS), Geographical Indications (GI), Government Procurement, Regulatory Cooperation, and Trade and Sustainable Development.
- Furthermore, building on the G7 Summit in Apulia, the co-chairs exchanged views on economic security issues, including addressing overcapacity, strengthening supply chains, maintaining and strengthening the multilateral trade regime with the WTO at its core including through cooperation within the OECD. Both sides confirmed the importance of cooperation among like-minded countries and through the relevant organizations to address the various challenges faced by the international community.
- Lastly, both sides confirmed that they will continue to ensure the appropriate implementation of the Japan-EU EPA and further strengthen cooperation between Japan and the EU.