The EU – Japan Economic Partnership Agreement in the focus of a meeting with H.E. Masato Watanabe

The Ambassador Extraordinary and Plenipotentiary of Japan to Bulgaria H.E. Masato Watanabe visited BCCI and met with President Tsvetan Simeonov. The opportunities offered by the EU – Japan Economic Partnership Agreement, which entered into force on 1 February 2019, were in the focus of discussion.

The President of BCCI informed that he had recently discussed this issue with the Bulgarian Minister of Economy Emil Karanikolov and the opinion had been shared of the significant economic benefits which the Agreement will bring for the European Union and Bulgaria.

Ambassador Watanabe confirmed that the Embassy of Japan in Sofia will support the planned events to promote and maximize the use of preferences provided by the Agreement.

The EU – Japan Economic Partnership Agreement eliminates most of the EUR 1 billion worth of customs duties paid annually by EU companies exporting to Japan. It also removes many non-tariff barriers, for example by adopting international standards on product safety and protection of the environment for motor vehicles. The Agreement will also eliminate the barriers faced by major EU food and beverage exporters in their quest to reach 127 million Japanese consumers and will increase export opportunities in a number of other sectors.