EU-Japan Economic Partnership Agreement
The EU and Japan's Economic Partnership Agreement entered into force on 1 February 2019, eliminating the majority of existing tariff and non-tariff measures pertaining to the delivery of goods and the provision of services, enhancing mutual cooperation and bringing new business opportunities.
The agreement’s main objective is to simplify trading between the EU and Japan and remove import barriers, mainly by abolishing import duties. The moment the agreement enters into effect, up to 90% of goods will be relieved of duties and even a higher share is expected after its full implementation. The reduction or removal of customs duties primarily concerns food and industrial products. Czech importers may utilise zero or reduced customs tariffs arising from the agreement when they present proof that a given product is of Japanese preferential origin. Rules pertaining to origin are also part of the agreement.
Companies from EU countries may acquire a special geographical indication status, offering protection to more than 200 agricultural and food products from specific European localities in the Japanese market.
In addition to customs measures, the agreement also eliminates non-tariff measures such as special technical requirements and requirements for product safety and environmental protection. In accordance with the agreement, both parties concerned must use international standards for motor vehicles, textile products, pharmaceuticals and cosmetics. The removal of non-tariff measures also concerns, among other things, administrative burdens when importing beer.
The agreement will also facilitate the provision of services and investment activities between both countries.