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Poland set to benefit from EU-Japan trade deal: expert

PR dla Zagranicy
Grzegorz Siwicki 11.12.2017 13:20
Poland’s exports to Japan could rise significantly if a proposed trade deal between the EU and Japan goes ahead, according to a Polish business organisation.
Photo: HypnoArt/pixabay.com/CC0 Creative CommonsPhoto: HypnoArt/pixabay.com/CC0 Creative Commons

Japanese investment in Poland could also increase as a result of the deal, the Lewiatan Employers’ Confederation, which represents many of Poland's leading corporations, said.

Last week the European Union and Japan announced an agreement on a trade deal that would encompass 600 million people and almost a third of world GDP, making it the largest free trade agreement ever reached by the EU.

The agreement must now be ratified by EU member states and by the European Parliament before taking effect.

Maciej Jeleński, a Lewiatan analyst, said: “There is a chance that Japanese investment in Poland will increase and that exports by Polish firms to that market will also rise.

“After signing the deal … exports to Japan will rise by around 10 percent, and the gains will be especially strong in the food sector.”

Jeleński added: “The deal is remarkable, as it is not only designed to increase exports, but it is also a clear signal of support for free trade and opposition to protectionist tendencies.”

Polish Foreign Minister Witold Waszczykowski went on an official visit to Japan earlier this year, during which both sides signed an agreement to improve bilateral diplomatic and economic relations over the next three years.

In 2013, Japan imported JPY 100 billion (EUR 750 million) worth of goods from Poland. (sl/gs)

Source: PAP, Ministry of Foreign Affairs of Japan

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