The European Union and Japan want to work together on some economic and geopolitical challenges. On October 25, representatives of both parties met for the High-level Economic Dialogue (HLED) to exchange ideas.

Source: Pixabay

What was discussed?

It was the second meeting of this kind since the EU-Japan economic agreement in 2019. Topics such as climate protection, Japan’s G7 presidency in 2023 and trade in goods were discussed.

The EU and Japan have committed to achieving carbon neutrality by 2050. „Japan and the EU are actively leading in the area of sustainable finance, striving towards a shared objective and facing common challenges”, said Mairead McGuinnes, Commissioner for Financial Services, Financial Stability and the Capital Markets Union.

Concerning the G7 presidency, the parties want to work closely together. The goal: fair competitive conditions and economic security worldwide.

EU criticizes Japan’s approval process

Finally, the EU also used the meeting to initiate simplifications in the approval process. The reason for this is the lengthy approval process in Japan in the areas of health and crop protection. These lead to delayed market access for products from the EU.

Source: European Commission