EPA would boost Japan, European economies
Daily Yomiuri, Japan
EPA would boost Japan, European economies
20 July 2012
BRUSSELS (Jiji Press)—Both Japan and the European Union would reap substantial benefits and enjoy growth if the two concluded an economic partnership agreement, the European Commission said Wednesday.
The pact would boost Japan’s gross domestic product by up to 0.7 percent by 2020 and the European Union’s by up to 1.9 percent, thanks to activated trade in goods and services following the elimination of tariffs and nontariff barriers, the executive body of the European Union said.
The commission also forecast Japan’s exports to the European Union would grow by up to 23.5 percent and the European Union’s exports to Japan by up to 32.7 percent.
If a trade pact is inked, Japan could expect to see a rise in EU-bound exports of electric machines, automobiles and other transport equipment. Imports of European processed foods and chemical products would also increase, the commission said.
