Japan, EU Agree to Work on Maintaining Free Trade

October 23, 2018

Tokyo- Japan and the European Union agreed on Monday to strengthen cooperation for maintaining and expanding free trade systems, at a time when protectionist moves are increasing in the world.

At a ministerial meeting on economic, trade and industrial issues, held in Tokyo, the two sides also agreed to work together on infrastructure investment in third countries.

"The free and open economic system now faces a serious threat," Japanese Minister of Economy, Trade and Industry Hiroshige Seko told a press conference after the meeting, stressing the significance of Japan and the EU, which share values, joining hands to set rules for free trade.

Japan and the EU also confirmed their intentions to jointly propose reforms of the World Trade Organization to enhance the functions of the Geneva-based trade watchdog.

Japan is expected to launch trade talks with the United States in January 2019. The EU is also slated to hold negotiations on trade with Washington.

Against the background, Japan and the EU are believed to have exchanged views on the protectionist policy of the administration of U.S. President Donald Trump, informed sources said. Jiji Press