YEREVAN, February 6. /ARKA/. The European Union will shortly start free trade negotiations with Japan, European Commission President José Manuel Barroso stated in a letter to his colleagues in the European Council ahead of their meeting later this week to underline the contribution that trade can make to boost growth and jobs in the European Union.
Japan is the second largest trade partner of the EU in Asia. The trade turnover between the EU and Japan stood at 116 billion euros in 2011 against 445 billion euros between the EU and the U.S. and EU-China 428 billion euros, Russia’s RIA Novosti reports.
The EU authorities believe that trade is an essential lever in their strategy to boost growth and jobs in the EU.
They appeal to Japan to remove trading barriers over automobile sales and liberalization of access to Japan’s electronics market.
Thus, the EU member states imply they can really benefit in terms of new job openings and economic growth as Japan deepens cooperation with the Union. It will allow, according to the EU authorities, to increase exports of the Union to Japan and create 400,000 additional job vacancies in the European region. -0-