EU parliament approves ‘world’s largest’ free trade deal with which country?
Options
1) japan
2)china
3)Russia
4)none of the above
answer
1) japan
Other details
The European Parliament on Wednesday approved an accord with Japan that has been said to be the world’s biggest trade deal, covering economies that represent a third of global GDP.
The agreement will go into effect in February,
EU Trade Commissioner is Cecilia Malmstrom.
lawmakers voted by 474 votes to 152 to back the deal,
Covering more than 630 million people and economies that add up to around a third of global output, the EU-Japan Economic Partnership Agreement has been under discussion since 2013.
When it goes into effect it will regulate almost all commerce between the Asian giant and the 27 remaining EU economies and, will benefit in particular European farmers.
This agreement is projected to increase exports between the two economies by 34 percent for the EU and 29 percent for Japan, liberalizing up to 99 percent of bilateral trade
Once the accord is fully implemented, some 85 percent of EU farm products will be eligible for tariff free export to Japan, although in some cases this will come after a period of transition.
Options
1) japan
2)china
3)Russia
4)none of the above
answer
1) japan
Other details
The European Parliament on Wednesday approved an accord with Japan that has been said to be the world’s biggest trade deal, covering economies that represent a third of global GDP.
The agreement will go into effect in February,
EU Trade Commissioner is Cecilia Malmstrom.
lawmakers voted by 474 votes to 152 to back the deal,
Covering more than 630 million people and economies that add up to around a third of global output, the EU-Japan Economic Partnership Agreement has been under discussion since 2013.
When it goes into effect it will regulate almost all commerce between the Asian giant and the 27 remaining EU economies and, will benefit in particular European farmers.
This agreement is projected to increase exports between the two economies by 34 percent for the EU and 29 percent for Japan, liberalizing up to 99 percent of bilateral trade
Once the accord is fully implemented, some 85 percent of EU farm products will be eligible for tariff free export to Japan, although in some cases this will come after a period of transition.