European Parliament votes on EU-Japan Economic Partnership Agreement
A Role Model
VCI welcomes fast ratification of the agreement between EU and Japan ++ Japan is important alliance partner of the European Union in many international political questions ++ Recognition of the European Parliament as the democratic body for trade affairs is essential.
Utz Tillmann, director-general of the German chemical industry association VCI, welcomes the approval of the European Parliament for the EU-Japan Economic Partnership Agreement: “Japan is an important alliance partner of the European Union in many international political questions. The further strengthening of this alliance is a positive feature. The fast ratification of the EU-Japan agreement should serve as a role model for the EU’s future trade agreements. It is essential to recognise the European Parliament as the democratic body for trade affairs.”
A major trading partner
In 2017, the German chemical-pharmaceutical industry exported goods worth 4.5 billion euros to Japan (ca. 2.4 percent of exports). Chemical products to the value of over 2.8 billion euros came to Germany from Japan (2.1 percent of German chemical and pharma imports). Thus, Japan is the industry’s second largest trading partner in Asia after China.
The VCI represents the politico-economic interests of around 1,700 German chemical companies and German subsidiaries of foreign businesses. For this purpose, the VCI is in contact with politicians, public authorities, other industries, science and media.The VCI stands for over 90 percent of the chemical industry in Germany. In 2018 the German chemical industry realised sales of over 204 billion euros and employed ca. 462,000 staff.