Prior to last week’s G20 summit Japan and the EU announced an agreement on a free trade deal. The Swedish government expects 97% of Japan’s and 99% of the EU’s tariffs will be scrapped. Ann Linde, the minister for EU affairs and trade, stresses the importance of the agreement, saying that two-thirds of companies exporting to Japan today are SMEs.
Five years ago a similar agreement was signed with South Korea, and since then exports have increased by 55%, according to the minister.
Sweden’s services, retail trade and food sectors could all benefit from the agreement, say experts Dagens Nyheter has spoken to.