WEB DESK
Japan and the European Union have reached a broad deal on an Economic Partnership Agreement that would affect about 30 percent of the world’s gross domestic product.
Japan’s Prime Minister Shinzo Abe and European Commission President Jean-Claude Juncker announced the deal in Brussels on Thursday. They confirmed that the two sides settled important issues after four years of negotiations.
The EP Agreement is the first of its kind among large, advanced economies, and would be one of Japan’s biggest trade deals.
Japan’s Prime Minister Abe is attending the G-20 Summit in Hamburg, Germany, starting on Friday. He is expected to stress the importance of free trade for sustainable growth of world economies.
