EU - Japan trade agreement effective on Feb 1, 2019

On February 1, 2019 the European Union (EU) - Japan Economic Partnership Agreement (EPA) becomes effective. The EPA creates a trading area that covers 600 million people and close to a third of global gross domestic product.

“The EPA is the biggest trade agreement concluded to date by the EU. 99% of the tariffs applied on EU exports to Japan which currently amount to €1 billion, will be removed.”(1)

The EU exports more than €58 billion in goods and €28 billion in services to Japan each year.(2)

References

1. European Council Press Release - “EU-Japan trade agreement will enter into force on 1 February 2019” - 21/12/2018

2. European Commission - “EU-Japan Economic Partnership Agreement” - Official Page

3. European Commission - “Fact sheets about the agreement” - News archive

Japan Imposes Additional Unilateral Sanctions on North Korea

On Friday, December 15, 2017 Japan imposed additional unilateral sanctions against 19 North Korean entities.  This includes companies involved in the financial services, coal, and oil trading sectors.

With the additional 19 entities, the total number of North Korean entities under Japanese sanctions now stands at 56.

(1) "According to a Foreign Ministry official, all the companies are already subject to U.S. sanctions, starting from January last year." 

Key Link(s):

• BBC News - "Japan expands unilateral sanctions against North Korea"
• Ministry of Finance, Japan - "経済制裁措置及び対象者リスト, Economic Sanctions Measures and Target List"
• (1) Nikkei Asian Review - "Japan expands unilateral sanctions on North Korea"