Japan: Economic Partnership Agreement with EU - KPMG United States
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Japan: Economic Partnership Agreement with EU

Japan: Economic Partnership Agreement with EU

The EU-Japan Economic Partnership Agreement will enter into force 1 February 2019, following completion of the agreement’s ratification by the EU Parliament and Japan’s National Diet.

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Related content

Read text of the EU-Japan Economic Partnership Agreement in Japanese or English
 

Read a January 2019 report prepared by the KPMG member firm in the Netherlands

Benefits under EU-Japan Economic Partnership Agreement

The EU and Japan together represent approximately 30% of global GDP and 26% of global trade. The agreement between the EU and Japan will reduce or eliminate customs duties on most goods, and will allow for increased market access through reduced time and cost of importing and exporting through the reduction of non-tariff measures (e.g., regulatory environment, technical regulations, conformity standards, etc.). 

  • For Japanese exporters, opportunities will be presented through a gradual reduction or complete elimination of customs duties in the industrial goods sector (e.g., automobiles and parts, machinery, chemical products and electronics). 
  • For EU exporters, opportunities will be in the agriculture, beverage, textile, and apparel and leather product sectors. 

KPMG observation

Similar to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)—set to enter into force in January 2019—the EU-Japan Economic Partnership Agreement will also allow for self-certification by an exporter, an importer or a manufacturer—thus reducing time, cost, administrative burdens, and missed opportunities compared to other agreements that require government authority certification. However, as is the case for most economic partnership agreements and free trade agreements, rules of origin may be complex and will require planning and preparation in order to meet the agreement’s requirements for qualification. 

 

For more information, contact a professional with KPMG’s Trade & Customs practice in Japan:

Masaharu Umetsuji | +81 3 6229 8070 | masaharu.umetsuji@jp.kpmg.com     

Kozu Takayuki | +81 3 6229 8205 | takayuki.kozu@jp.kpmg.com


Or contact a professional with KPMG’s Trade & Customs practice in the United States:

Doug Zuvich
Partner, Global Practice Leader
T: 312-665-1022
E: dzuvich@kpmg.com

Andy Siciliano
Partner, National Practice Leader
T: 631-425-6057
E: asiciliano@kpmg.com

Irina Vaysfeld
Principal
T: 212-872-2973
E: ivaysfeld@kpmg.com

Robert Waldrop
Principal
T: 212-954-8117 
E: rwaldrop@kpmg.com

Christopher Young
Principal
T: 312-665-3229
E: christopheryoung@kpmg.com

George Zaharatos
Principal
T: 404-222-3292
E: gzaharatos@kpmg.com

John L. McLoughlin
Principal, East Coast Leader
T: 267-256-2614
E: jlmcloughlin@kpmg.com

Luis (Lou) Abad
Principal, WNT
T: 212-954-3094
E: labad@kpmg.com

Amie Ahanchian
Managing Director
T: 202-533-3247
E: aahanchian@kpmg.com

Gisele Belotto
Managing Director
T: 305-913-2779
E: gbelotto@kpmg.com

Andy Doornaert
Managing Director
T: 313-230-3080
E: adoornaert@kpmg.com

Jessica Libby
Managing Director
T: 612-305-5533
E: jlibby@kpmg.com

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