"Our economic partnership with Japan -– the biggest trade zone ever negotiated –- is now very close to becoming a reality," EU Trade Commissioner Cecilia Malmstrom said.Talking to AFP before lawmakers voted by 474 votes to 152 to back the deal, Malmstrom called it "a symbol, a signal" and added: "We're showing that for our part, we're in favour of open but regulated trade. "Approving the EU-Japan EPA, the European Parliament delivers on what business and citizens need in a time of political and economic uncertainty," said BusinessEurope Director General Markus Beyrer. "This agreement is projected to increase exports between the two economies by 34 percent for the EU and 29 percent for Japan, liberalising up to 99 percent of bilateral trade," he argued. "The European Parliament agreed to a trade agreement that damages European democracy," Lena Blanken of Foodwatch said.The deal "restricts the legislative authority of the EU and its member states, jeopardises the European precautionary principle and establishes committees without sufficient democratic control. "With or without a deal, we do trade with far off countries.

Source: Egypt Today December 12, 2018 13:41 UTC