New study shows the advantages of an Economic Integration Agreement -EIA

European think-tank,  Copenhagen Economics, has conducted a major study for the European Commission on the economic impact both for the EU and Japan of dismantling both tariff and non-tariff barriers to trade under an EU-Japan Economic Integration Agreement. 

Key findings are that:

1. EU exports to Japan could increase by almost 50 percent or 29 billion euros if the cost of non-tariff measures in Japan were reduced to the fullest possible extent
2. EU exports to Japan could increase by 23 percent or 14 billion euros if tariffs were abolished.
3. Economic welfare could increase by 33 billion euros
4. The potential for opening up Japan's public procurement market further has been quantified at 74 billion euros.
5. The study concludes that a decline in the relative importance of bilateral trade between the EU and Japan should not be equated with low economic potential in the bilateral trade relationship. This report argues that there is considerable unrealised economic potential to revitalise bilateral trade.

Download the report