06:54 GMT08 May 2021
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    The text of the agreement between the European Union and Japan on Economic Partnership will be ready by the end of 2017, after the European Union and Japan reached the agreement in principle on the bilateral trade partnership during the 24th bilateral summit, according to the statement of the European Commission.

    BRUSSELS (Sputnik) — The text of the agreement between the European Union and Japan on Economic Partnership will be finalized by the end of 2017, the European Commission said Thursday.

    Earlier in the day, the European Union and Japan reached the agreement in principle on the bilateral trade partnership during the 24th bilateral summit. The agreement is aimed at consolidation of trade and economic partnership between Tokyo and Brussels and addresses such issues as investment and services, procurement and market access for goods.

    "Based on today's agreement in principle, negotiators from both sides will continue their work to resolve all the remaining technical issues and conclude a final text of the agreement by the end of the year," the European Commission said in a statement.

    Technical details in some chapters of the agreement are still to be settled and some issues, such as investment protection have not been included in the document, according to the statement.

    The deal is expected to enter into force in early 2019.

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    European Commission, European Union, Japan
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