THE ECONOMIC AND GEOPOLITICAL MEANINGS BEHIND THE EU-JAPAN ECONOMIC PARTNERSHIP AGREEMENT

Agnes Ghibuţiu

Revista de Economie Mondiala / The Journal of Global Economics, 2018, vol. 10, issue 1, 18-41

Abstract: In December 2017, the EU and Japan announced the conclusion of the final talks on their comprehensive Free Trade Agreement and Economic Partnership Agreement (EPA) respectively, negotiated since 2013. The EPA comes at a time when the international rules-based order and open trading system are facing the biggest challenges since their establishment in the aftermath of WW2. After a brief overview of the components of the new EPA, this paper highlights its economic, commercial, and geostrategic significance, and also assesses its implications for the EU and Japan, as well as the USA, and globally. According to its findings, in addition to the substantial potential economic benefits for the EU and Japan, the new agreement will trigger considerable geopolitical effects. Not only will it place the EU and Japan at the forefront of global trade liberalization and rule-setting, but it is also likely to have a beneficial influence on US trade policy. Yet, the current world order and the global trading system are still in flux, and their future is fraught with uncertainty.

Keywords: European Union (EU); Japan; free trade agreement; trade policy; USA (search for similar items in EconPapers)
JEL-codes: F02 F13 F15 O52 O53 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://iem.ro/rem/index.php/REM/article/view/627/707 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iem:journl:v:10:y:2018:i:2:p:18-41

Access Statistics for this article

Revista de Economie Mondiala / The Journal of Global Economics is currently edited by Simona Moagar Poladian, PhD

More articles in Revista de Economie Mondiala / The Journal of Global Economics from Institute for World Economy, Romanian Academy Contact information at EDIRC.
Bibliographic data for series maintained by Ionela Baltatescu ( this e-mail address is bad, please contact ).