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Economy

Japan-EU trade pact to take effect Feb. 1

Europe signs off on huge deal spanning 40% of global trade

The Japan-EU EPA, approved by Europe on Wednesday, is expected to bring more European cheeses to Japan and more Japanese cars to Europe.
The Japan-EU trade deal is expected to bring more European cheese to Japan and more Japanese cars to Europe. (Photo by Wataru Ito)

BRUSSELS -- The European Union approved an economic partnership agreement with Japan on Wednesday, firming up a Feb. 1 launch for the massive free trade zone.

The European Parliament endorsed the agreement by majority vote at a regular meeting in Strasbourg, France, four days after Japan's legislature passed the pact. The deal will cover about 30% of the world's combined gross domestic product and around 40% of global trade.

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