EU/Japan trade deal will boost Europe’s metals exports, market experts say

THE EU’s projected comprehensive trade deal with Japan will benefit exporters of Europe-produced non-ferrous metals, experts have told Metal Bulletin, although Japanese non-ferrous metal exporters are more cautious about the potential benefits for their industry.

This so-called Economic Partnership Agreement (EPA), agreed in principle at a July 6 EU-Japan summit in Brussels and dubbed by the European Commission as "the most important bilateral trade agreement ever concluded by the EU", will scrap mutual duties on non-ferrous metals imports and remove other non-tariff barriers to trade and investment. As these are industrial products, customs duties "will be fully eliminated on both sides", a spokesperson said. The Commission said that the agreement, expected to come into force in early 2019, will increase exports of all EU goods and services to Japan by up to 24%. "It has enormous economic importance," Commissioner for Trade Cecilia Malmström emphasised. "We expect a major boost of exports in many sectors of the EU economy." European non-ferrous metals industry association Eurometaux’s director general, Guy Thiran, said: "Eurometaux has advocated for liberalisation of tariffs with Japan since the beginning of the negotiations, so...

Published

INS - Liz Newmark

INS - Julian Ryall

July 14, 2017

15:48 GMT

Brussels, Tokyo