Japan Govt Adopts Bills on EPA with EU
Tokyo, Nov. 6 (Jiji Press)--The Japanese government, at a cabinet meeting on Tuesday, adopted a bill to ratify an economic partnership agreement between Japan and the European Union and related bills, deciding to request parliamentary approval for them.
The government plans to submit the EPA legislation and the related bills to the ongoing extraordinary session of parliament, held through Dec. 10, and aim to put them into effect on Feb 1 next year.
Signed by Japanese and EU leaders in July, the EPA between Japan and the EU will remove or reduce tariffs and nontariff trade barriers and create a huge economic zone that accounts for 30 pct of the world's gross domestic product.
The EU parliament is carrying out procedures to ratify the agreement. Both sides hope to complete their domestic procedures within this year.
The EPA is set to take effect on the first day of the month that is two months after both sides complete their domestic procedures.
[Copyright The Jiji Press, Ltd.]