The European Parliament on Wednesday approved a major trade deal between the EU and Japan, the largest ever, presented as a "symbol" of Donald Trump's protectionism and the political crisis surrounding Brexit. This agreement, approved by 474 votes in favor, 152 against and 40 abstentions, must enter into force on February 1, 2019.
It is "a symbol, a signal", welcomed the European Commissioner for Trade, Cecilia Malmström. "We show that we are in favor of open, but regulated trade".
Soon an agreement with the United Kingdom? The conclusion of this agreement allows the EU to assert its role as the flagship of free trade, at a time when multilateralism is more than ever challenged by the United States. This agreement could serve as a basis for a possible commercial treaty with the UK after Brexit.
"Everything is a little uncertain with the United Kingdom for now, but someday we will have to negotiate something", which will "go further" than what was concluded with Japan, says Cecilia Malmström.
More than 630 million people involved. This negotiated text since 2013 is the largest ever concluded: it concerns more than 630 million people and nearly a third of global GDP. It will cover, as soon as it comes into force on 1 February, almost all trade between Brussels and Tokyo and will benefit, in particular, according to Cecilia Malmström, from European agriculture.
Ultimately, 85% of EU agri-food products will be able to enter Japan without customs duties, but sometimes at the end of transition periods.