Trade Cooperation between Japan and the EU: Quantitative and Structural Changes as the Result of the Japan–EU Free Trade Agreement (JEFTA) Establishment

This research aims to determine the economic effect of the transition of Japan and the EU to the first stage of integration cooperation and the creation of a Free Trade Zone. The EU countries and Japan lie in the plane of the foreign economic interests of the two main competitors in the world — the USA and China. Particularly, the leading strategy for China’s “penetration” into the European market is the global Belt and Road initiative. The American approach was based on the creation of the largest free trade area between the USA and the EU (TTIP), which, however, never took place. Confirmation of Japan’s interest in the USA is the numerical superiority of the signed agreements between the USA and the EU — about 20. The research identifies the common trade interests between Japan and the EU. The impact of the JEFTA Free Trade Area agreement on the sectoral and commodity structure of the trade of the participating countries is assessed. The main areas of trade cooperation between Japan and the EU and further development prospects due to the conclusion of the FTA agreement were identified. The author estimates that the EU has a bilateral deficit of goods and a surplus of services. Japanese companies have a strong presence in the EU, especially in the service sector.