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Strategic Partnership Agreement Between The European Union And Japan

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Less than a decade ago, both Japan and the European Union were considered protectionist and the chances of signing a comprehensive free trade agreement (FTA) seemed slim. But here we are because Japan and the EU have ratified the world`s largest free trade agreement and exceed both the agreement between the United States, Mexico and Canada and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in terms of gross domestic product (GDP). The EU-Japan EPA not only connects two economies worth almost $25 trillion; it sets the standards for twenty-first century trade agreements. Despite skepticism about the deal, there are indications that the results go beyond mere rhetoric. .