In its Europe News Issue published on January 22, the Japan Automobile Manufacturers Association (JAMA) focused on the decision reached between the Japanese government and the European Commission on November 29 to start negotiations on the establishment of an economic partnership agreement (EPA) between Japan and European Union member countries. The JAMA welcomed the decision, while Japan's Foreign Affairs Ministry stressed that "the economic partnership agreement will benefit economic growth both for Japan and Europe."
On behalf of the European Commission, Trade Commissioner Karel de Gucht said that the EU Council of Ministers' green light "was an important political decision - and necessary - if we want to foster growth and jobs in Europe," adding, "That is exactly what our economies need."
The Japanese automobile industry's decades-long presence in Europe reflects its significant investment in the region over many years. Furthermore, Japanese automakers have developed multiple fruitful partnerships with European automobile manufacturers, which have helped strengthen the industry's overall competitiveness. JAMA members have 12 plants in seven countries in the EU and 12 R&D and design centers in five countries, and across the region over 164,000 people are employed through their activities there. In 2011, their purchases of EU-made auto parts totalled €11.75 billion.
JAMA anticipates that the key impetus provided by a Japan-EU economic partnership agreement will enhance trade, investment and industrial cooperation between Japan and the EU. It will no doubt also fuel growth in the automobile industries on both sides at a time when they are facing a number of common challenges, including economic uncertainty and the need to advance the development of next-generation environmentally-friendly vehicles.