JEFTA EU-Japan Free Trade Agreement - Opportunities and Avoidance of Risks
JEFTA (Japan-EU Free Trade Agreement) is a free trade and investment protection agreement between Japan and the European Union, which has been in force since 01 February 2019.
- The dismantling of trade barriers
- Establishing rules and standards for fair trade
- Reduction of import duties
- Simplified processes and approval procedures
With the final destination:
- the further opening of the market
- job creation
- currency growth on both sides
In principle, JEFTA is the first agreement in which the signatories explicitly commit to the Paris Climate Agreement.
It is now important for importers and exporters to understand the agreement, to follow the guidelines and rules in order to take advantage of possible preferences, but at the same time to avoid possible risks in case of wrong application.
The link below explains the full agreement accordingly:
(please follow "EU-Japan Economic Partnership Agreement" page 3)
The main contents of the preferential arrangements are set out in the following chapters.
- Chapter 3 / Rules of origin and origin procedures
- Annex 3-A / Rules of origin
- Annex 3-B / Origin procedure
- Annex 3-C / Other
In addition, the European Commission has published the following guidelines for further explanation.