EU-Japan Launch Economic Partnership
Tokyo, July 23 (QNA) – The leaders of the European Union (EU) and Japan agreed on Wednesday to launch an economic and strategic partnership aimed at enhancing economic cooperation, defending free trade, and confronting unfair tariff practices.
This comes at a time when both sides are facing growing challenges from both the United States and China.
The agreement was reached during a meeting that included President of the European Commission Ursula von der Leyen, President of the European Council Antonio Costa, and Japanese Prime Minister Shigeru Ishiba.
The deal also comes as Japan and the United States reached a new trade agreement under which the US will impose a 15 percent tariff on imported Japanese cars and products, instead of the 25 percent previously planned by US President Donald Trump.
In a joint statement issued by the European Union, EU and Japanese leaders agreed to launch a competitiveness alliance aimed at boosting trade, economic security, innovation, energy cooperation, among other areas.
Both sides also expressed support for an economic system that is free, fair, stable, and predictable, one that is based on clear and consistent rules.
The leaders reaffirmed the importance of EU-Japan cooperation in supporting a multilateral trade system, with the World Trade Organization (WTO) at its core, together with other multilateral cooperation efforts. (QNA)