EU, Japan to sign free trade deal by summer: EU official

Excellent news! Can't wait to see cheaper European food products in Japan, and Japanese high tech and auto manufacturers will see a big bump

Can't wait for some cheap cheese!

Wonder how the Germans feel about competing with Toyota and alike under these new conditions. Mind you, the Volkswagen Group is right on the tail of Toyota in terms of overall car sales worldwide.

finally, we can eat real cheese!

In reaching the deal, they have decided not to include a scheme to settle investment disputes and will continue negotiations over the issue. Malmstrom did not discuss the issue on Tuesday.

Without an agreed comprehensive framework for dispute resolution, this is just another meaningless press release.

Nice idea and nice propaganda...

Without the details and the exact terms and conditions, it is difficult for anyone to even predict its effect.

The final answer will come when the real effect is felt, data is taken and analyzed for evaluation, probably 3years after implementation.

Hopefully the entire plan had the foresight to take into account the change in automation by robotification and AI in all industries by the time the agreement actually takes effect.

They make such a big deal about it, but it will take a decade for prices to come down to the level they're boasting. But, on the upside, if prices of European foodstuffs and wine gradually go down, it can't hurt.

The point most people in this discussion often forget is the basic problem of "taxation" and using it for international balance of power and economic stability within a country for government "revenue" and "political" purposes. In effect it is a government sanctioned way to prevent other nations to negatively affect its domestic economy while balancing international trading presence.

The only problem this deal will be for EU with its individual members with different needs losing its ability to control their own specific economic situation by being required to abide by what the "group" as a union has decided.

the Volkswagen Group is right on the tail of Toyota in terms of overall car sales worldwide. actually VW may just edge Toyota in car sales, but Toyota is about $4billion more profitable than VW for those vehicles produced. Cant beat Toyota efficiency

@ kasetsukai

’ with its individual members with different needs losing its ability to control their own specific economic situation’

The EU is divided in net receivers and net payers and only the interests of the net payers count. The new transition Territories [ the cheap labour & RLD supply chain ] and the Garlic members ‘have limited say in this’ :)

Costco has actually good prices on some items like sausages and cheeses. I would like to see this import change adjust them down further. And bring on the Olives. There actually has been a big influx in them over the last two years. Not grade A stuff, but doable.

You will be surprised to see abundance of cheese, pickles, chocolate from Europe in Japan's ordinary Maxvalue or AEON shop. I doubt this will ever happen. Soon local companies like Meiji or Kraft will start complaining about the revenue loss and require protection from government as it was in the past. Or importers get pressure (read "bribes") from local companies not to import above certain quota, etc. There are manuy ways to protect monopoly and screw up customers like those bug guys do.

The only time you see some additional import is when Abe made an overseas trip to Turkey, you could spot Turksih cheese and olive oil. When he visited Baltic countries, Latvian sardines were on sale. Completely ridiculous.

Costco has a good stuff at competitive pricing but the nearest Costco is 1.5 hrs away by car from the place I live. Maxvalue is 5 mins away by walk.

@Peter

The only time you see some additional import is when Abe made an overseas trip to Turkey, you could spot Turksih cheese and olive oil. When he visited Baltic countries, Latvian sardines were on sale. Completely ridiculous.

Don't be too hard on the bloke. He's got to supplement his meagre prime minister's salary somehow, in these tough times. And a suitcase full of tinned sardines goes down wonderfully with the locals....