The Japan-EU Economic Partnership Agreement entered into force on February 1, 2019. A large free trade area now exists with a market of 635 million people, almost one third of the world’s gross domestic product .
What are the opportunities related to this economic agreement?
Customs duties are eliminated for approximately 90% on products traded between the EU and Japan. The agricultural sector is the most concerned with almost 85% of customs duties removed, which strengthens the competitiveness of companies. This economic agreement allows for a great harmonization of certain standards between the EU and Japan.
The agreement also opens up the markets for services, namely financial services, e-commerce, telecommunications and transport, which will make it easier for EU companies to access important public markets in 54 Japanese cities.
Is there any risks for data protection?
The EU and Japan have adopted a strategy that will allow a secure free flow of personal data between the two partners. An equivalence of data protection systems with the largest secure data circulation environment in the world.
What ASD Group offers in the framework of this new economic agreement:
ASD Group is an expert in customs regulations, it will accompany you in the study and the implementation of your case, it offers a tailor-made service that will meet all your needs.
Choosing ASD Group is choosing security, customs as in all other sectors, prevention is a guarantee of security. Given that the agreements are complicated and that the stakes are high, it is essential to make use of experts of the customs regulations to accompany you in your case.
Do not hesitate to contact us for more information.