Shinzo Abe , Sebastian Kurz Agree To Expand Trade, Tourism In Light Of New EU-Japan FTA

Shinzo Abe , Sebastian Kurz Agree to Expand Trade, Tourism in Light of New EU-Japan FTA

Japanese Prime Minister Shinzo Abe and Austrian Chancellor Sebastian Kurz agreed on Friday to expand bilateral cooperation in trade and tourism, in light of the recently enacted free trade agreement between the European Union and Japan

TOKYO (Pakistan Point News / Sputnik - 15th February, 2019) Japanese Prime Minister Shinzo Abe and Austrian Chancellor Sebastian Kurz agreed on Friday to expand bilateral cooperation in trade and tourism, in light of the recently enacted free trade agreement between the European Union and Japan.

"We've been able to set an example to the world as flag bearers of free trade amid growing tendencies of protectionism in the world," Abe said at a joint press conference in Tokyo.

Both sides expressed optimism about the future of their countries' bilateral trade partnership and agreed that the recently enacted Japan-EU Economic Partnership Agreement (EPA) would provide an impetus for the strengthening of Japanese-Austrian economic relations.

Japan is Austria's second largest market after China in Asia for exported goods and services, and the seventh biggest trade partner outside the European Union.

The Japan-EU free trade agreement came in effect on February 1 and lifted the vast majority of custom duties on goods imported to Japan from Europe and vise versa. The day before the agreement came into effect, President of the European Commission Jean-Claude Juncker said Europe and Japan were sending a message to the world about the future of open and fair trade.