McClarkin joins trade delegation to Tokyo

Conservative MEP Emma McClarkin has this week visited the Japanese capital city of Tokyo alongside colleagues from the international trade committee of the European Parliament. It is hoped that the trip will spark negotiations for a free trade agreement between the EU and Japan that have been ongoing since April 2013 but which have slowed recently.

Emma’s packed schedule included a meeting with State Minister for Foreign Affairs, Mr Yoji Muto (picture above), other government departments such as the Ministry of Economy and Trade and the Ministry of Agriculture, as well as meetings with various business and non-governmental representatives.

Emma said:

“This was a fantastic opportunity for Members of the European Parliament to engage with government officials and stakeholders in Japan to put pressure on advancing the negotiations for a free trade deal. We have learnt a lot from each other in the short space of time that we have had and we understand that the deal would benefit both sides. Japan is the EUs seventh largest trading partner even without a deal, while the EU is Japan’s third largest trading partner.”

The potential deal is important to the UK, with forecasted benefits ranging between £5 billion and £11 billion depending on the level of ambition. The automotive sector is particularly key, where currently non-tariff barriers (NTBs) add an estimated 12.5% to the cost of European cars sold in Japan. Last year £500 million worth of UK cars were sold in the country. High tariffs of almost 40% on beef are another example of an area where the UK would benefit from a trade deal.

Emma added:

“This is clearly a deal worth doing and while both sides have vested interests that they want to protect, we must overcome those hurdles and recognise that if each of us give some ground, it will have longer term benefits. We in the UK and Japan share a passion for automotive and high performance technology. We have lots of Japanese investment here in the East Midlands and there is huge potential for growth.

Now that Japan has completed negotiations for a Trans Pacific Partnership with American and Asian Pacific countries, it gives more space for EU negotiators to work with the Japanese to do a deal, but it also puts pressure on the EU to catch up. I look forward to hearing about further progress soon.”