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After the conclusion of the trade agreement between the European Union (EU) and Japan, new export opportunities open up for Latvian companies, according to the Ministry of Foreign Affairs . According to data from the Investment and Development Agency of Latvia, in 2016, Japan was the 33rd largest Latvian exporting company and the 39th import partner.
The trade balance of Latvia and Japan has been positive for several years – we export more to Japan than we import from this country. In addition, the import and export volumes are increasing and last year we shipped 49 million euros to Japan, but imported 22 million euros from Japan [19659003] LTV
The main product that Latvia brings to Japan is various wood products. They traveled to the rising sun for 25.4 million euros last year. Then the optical devices and the device followed, and third – the mineral products.
In contrast, Japan is the largest importer of various vehicles from Japan. Last year – 6.5 million euros. Second place is rubber and its products, but the third group imported from Japan to Latvia last year was a variety of machines and appliances.
The European Commission estimates that after the conclusion of the agreement, European food exports could increase by 180%, as a result of the agreement will be abolished tariffs for the cheese, wine and pork. But the benefits are not only economically – the President of the European Council Donald Tusk stresses that the treaty also gives a political signal.
"It is a light in the growing darkness of international politics.We send a clear message on which we can rely, we are predictable and responsible, both in Japan and in the world. EU, and we will continue to defend the international order based on rules, freedom and understanding.And this political dimension is even clearer today than it was two months ago. sure you understand what I mean, "Tuscus said.
BACKGROUND:
The contract signed Tuesday for the abolition of the tariff of 99%. Businesses on both sides have paid close to one billion euros a year.
The treaty will cover nearly 600 million people, who account for one-third of the world's gross output. The EU expects an increase in exports to Japan, especially for agricultural products. But Europe, for example, will gradually cancel the 10% import tariff for Japanese cars
