All
 

 

Just in:  

You are here: Home»World»Southeast Asia»Japan hails EU approval for free trade talks

japan-flagTOKYO: Japan on Friday welcomed the green light given by the European Union to launching negotiations on a massive free trade deal between the two economies.

 

The long-awaited move by EU trade ministers was hailed as particularly good news for Japanese automakers, who have struggled with the shrinking domestic market, a strong yen and a bitter island row with China.

 

"Acting on the principle of competition and cooperation, Japan's motor industry has, over many years, cultivated an ever-growing number of fruitful partnerships with European automobile manufacturers," said a statement by Akio Toyoda, Toyota president and chairman of the Japan Automobile Manufactures Association.

 

"We are convinced that an EU-Japan FTA will provide a key impetus in promoting robust trade, investment and industrial cooperation between the two sides... fuelling growth and expansion of the automobile industries in both Japan and Europe."

 

Japan's Foreign Minister Koichiro Gemba also welcomed the development, saying "the economic partnership agreement will benefit economic growth both for Japan and Europe."

 

European car and car part manufacturers are fearful the removal of tariffs will lead to a rise in Japanese car imports, pointing to a previous trade deal with South Korea that bumped up sales of their vehicles in Europe.

 

EU trade ministers pledged to safeguard Europe's struggling carmakers, but auto companies have slammed the envisaged deal as what the European Automobile Manufacturers' Association dubbed "a one-way street' for Japanese cars.

 

Copyright AFP (Agence France-Presse), 2012


 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24





where to buy

cheap wedding dresses

online - weddingdresstrend.com


Banking Review 2013


Buy new style hair wigs at cheap price on Ishowigs.com

Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln