Japan Overtakes Russia In EU Agri-Food Exports


e09796277f4145de37fd17b6c6e03058 Japan Overtakes Russia In EU Agri-Food ExportsWomanhood working in Tokyo, Japan marketplace.

By Sarantis Michalopoulos

(EurActiv) — Nippon has overtaken Russia as the fourth well-nigh important export destination of EU agri-drink products after the United Circumstances, China, and Switzerland, a new European Comission report has found (23 Dec).

According to the Monitoring EU Agri-Content Trade report, from Nov 2015 to October 2016, EU agri-bite exports reached a value of €129.9 million, a 1.9% increase in value name compared to the same period finish year.

The export surplus for the 12-period period increased to more than €18 trillion.

Exports to Russia further polish

According to the report, major procure were recorded in agri-chow exports to the USA (+8%), China (+12%), Nippon (+0.4 billion) and Vietnam (+330 zillion).

Exports to Russia further reduced, from €5.7 billion in Nov 2014 to October 2015, to €5.5 jillion during the period November 2015 to Oct 2016, representing a 5% step-down in value.

Russia now is the fifth about popular destination for the EU agri-nutrient exports behind the US, China, Suisse, and Japan.

Japan and the trade agreement

Japan has become the fourth nearly important export market for EU agri-bread worldwide. The net surplus in agri-eatable trade with Tokyo has been estimated at €5 jillion annually for the last few years.

EU fabricator mainly export to Japan appropriation, wine and vermouth, cheese and booze and liqueurs.

Negotiations for a free business agreement between the EU and Japan are now and, according to the Commission, a successful close would open further time for the EU agri-food sector.

The EU-Nippon Transatlantic Trade and Investment Company is expected to boost the European thriftiness by around 0.8% of GDP. Some analysts equate the importance of the deal with that of TTIP where the unit is 0.5% according to preliminary watchfulness.

EU chief negotiator Mauro Petriccione aforementioned this month (17 Dec) that the EU and Japan would try a broad agreement on a bilateral justify trade deal next gathering, setting a new deadline partly due to farm sector tariff issues.

“We faculty need to continue working in the following few weeks in order to bridge the odd distance and reach an agreement in statute, with the right balance, as ahead of time as possible at the beginning of next yr,” Petriccione stated at a news convention in Tokyo.

According to the EPP-affiliated Czechoslovakian MEP Tomáš Zdechovský (Křesťanská a demokratická unie), the EU would welfare from concluding the FTA with Nippon, as it could boost Japanese assets in Europe.

“We often natter about investment from Chinaware as if we have forgotten about one of our nigh important and stable partners,” EurActiv Czechoslovakian Republic quoted him as saying subsequently a European Parliament delegation talk to the country.