The European Parliament approved the EU-Japan Economic Partnership Agreement on 12 December 2018. The trade agreement will come into effect after an approval from the European Commission, probably in early 2019.
The economic partnership between the EU and Japan creates a common framework for regulations and standards and will gradually result in the removal of most customs duties in the EU-Japan trade. In the first phase customs duties will be lifted for example from several agricultural products such as wine, beef, pork, pasta, chocolate and shortbread. Exporters to Japan are typically small and medium sized enterprises who are intended to benefit from the trade agreement.