Summary of the 8th Japan-EU Summit

June 20, 1999

Overview

The 8th Japan-EU Summit was held on June 20, 1999, in Bonn, Germany, with the attendance of Mr. Keizo Obuchi, Prime Minister of Japan, Mr. Gerhard Schroeder, Chancellor of Germany, and Mr. Jacques Santer, President of the European Commission. The meeting was also attended from the Japanese side by Mr. Mitsuhiro Uesugi, Deputy Chief Cabinet Secretary, and others, and from the EU side by Sir Leon Brittan, Vice President of the European Commission, and others. The three leaders held a joint press conference after the meeting and issued a Joint Press Statement.

Summary of the Summit

(1) Further strengthening of Japan-EU relations in a wide range of fields

The leaders agreed that the EU--which has been advancing integration in the fields of the economy, politics, and security, and hence plays a vital role in stability and prosperity in Europe--and Japan will further strengthen their relations and develop their cooperation.

(2) International affairs

1. Kosovo: The leaders confirmed the importance of close cooperation among G-8 member countries. The Japanese side expressed its appreciation for the EU's initiative, while the EU side welcomed Japan's active contributions.
2. Russia: The leaders agreed on their support for Russia's reform efforts.
3. Korean Peninsula: The leaders confirmed the need for Japan and the EU to cooperate in promoting peace and stability in the region.

(3) Economic and trade relations

1. Macroeconomic development in Europe, Asia, and Japan: The EU side welcomed the steps taken by Japan for its economic recovery and its efforts to facilitate the recovery of Asian economies. Both sides expressed the expectation that the euro will become a stable and reliable international currency.
2. Japan-EU deregulation dialogue: The leaders agreed to deepen the deregulation dialogue by focusing on the priority issues and reviewing their progress regularly at Japan-EU ministerial meetings.
3. Japan-EU Mutual Recognition Agreement (MRA): Japan and the EU agreed on the main elements of the agreement in four priority sectors.
4. Japan-EU business dialogue: The leaders welcomed the strengthening of dialogue between the Japanese and EU business communities.
5. World Trade Organization: The leaders welcomed the close cooperation and accordance of views between Japan and the EU in the WTO and reaffirmed their intention to strengthen their cooperation toward the launching of a new round of multilateral trade negotiations. They also expressed their support for the accession of China to the WTO as early as possible.