Updates related to EU-Japan-RoK cooperation: news digest as of September 2024
We have compiled news articles and valuable data that can assist European SMEs and start-ups in gaining a better understanding of the trade and economic landscape in the target markets of Japan and the Republic of Korea. This information will help you prepare for exporting, with the support of our EU Business Hub programme.
EU-Japan cooperation continues to strengthen under Economic Partnership Agreement
The fifth meeting of the Joint Committee established under the EU-Japan Economic Partnership Agreement (EPA) heard that bilateral trade and investment relations continue to expand and deepen.
The EU and Japan acknowledged progress achieved in implementing the EPA since the last Joint Committee meeting, including the entry into force of new provisions on the free flow of data, and the addition of 48 new Geographical Indications (GIs) to the agreement, which now covers a total of 423 GIs. Both sides discussed further market access improvement, and Executive Vice President of the European Commission Dombrovskis praised growing cooperation on offshore wind power, an area where EU businesses can meaningfully contribute to Japan’s achievement of its climate goals.
EU-Republic of Korea Digital Partnership – Joint EU/Republic of Korea Chips Projects announced
The European Commission on behalf of the European Union (EU) together with the Republic of Korea (RoK) announced the selection of four jointly supported projects in semiconductors. The total investment is around €12 million, of which half comes from the EU and the other half from the National Research Foundation of Korea (NRF).
The projects will advance heterogeneous integration technologies i.e. technologies combining multiple components onto one chip as well as neuromorphic computing technologies, i.e. technologies imitating the functioning of the human brain.
EU-Japan: the Council approves a protocol to facilitate free flow of data
The Council adopted today the decision on the conclusion of a protocol to include provisions on cross-border data flows in the agreement between the EU and Japan for an Economic Partnership.
The protocol will provide greater legal certainty, ensuring that data flows between the EU and Japan will not be hampered by unjustified data localisation measures, and also ensuring the benefit from the free flow of data according to the EU and Japan’s rules on data protection and the digital economy.
EU-Japan Strategic Partnership Factsheet: Check out the main facts and figures
The EU-Japan strategic partnership continues to grow deeper and more dynamic. It is based on longstanding cooperation, common interests and shared values, supporting human rights and democracy, multilateralism, and a rules-based international order based on the UN Charter, as well as open, free and fair trade and a green transition.
Japan is the EU’s closest strategic partner in the Indo-Pacific region and a key ally for the implementation of the EU Strategy for Cooperation in the Indo-Pacific released in September 2021.
EU-Republic of Korea Strategic Partnership Factsheet: Check out the main facts and figures
The EU and the Republic of Korea are like-minded partners sharing similar values and common interests. Strategic Partners since 2010, cooperation between them brings tangible benefits to citizens in both regions and the wider international community.
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