EPA with Japan to Cut British Tariff on "Pocky" by 31 Pct

Economy Politics

London, Oct. 23 (Jiji Press)--The British government said Friday the tariff on imports of Japanese chocolate snack "Pocky" will go down by up to 31 pct once the Japan-Britain economic partnership agreement comes into effect.

Osaka-based confectionery maker Ezaki Glico Co.'s <2206> Pocky, popular in not only Japan but also Britain and other parts of the world, was among the flagship Japanese products named to be subject to lower tariffs in a British government report on the estimated economic effects of the EPA.

British import tariffs will be reduced by up to 13 pct for udon noodles, 22 pct for bluefin tuna, 60 pct for Kobe beef and 6 pct for soy sauce, according to the report.

The impact assessment of the bilateral pact, released Friday, suggested that Japanese exporters will benefit more from the deal than British exporters will do.

The EPA is estimated to raise British exports to Japan by 17.2 pct, or 2.6 billion pounds, and Japanese exports to Britain by 79.9 pct, or 13 billion pounds, in about 15 years compared to the 2019 levels, the report noted.

[Copyright The Jiji Press, Ltd.]

Jiji Press