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Monday, May 4, 2009

Summit talks between the EU and Japan will be held today in Prague.

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News The main focus will be strengthening cooperation on key global challenges such as climate change and the financial and economic crisis. The summit leaders will also review progress on bilateral issues since the last EU-Japan, in areas such as science and technology, aviation, financial services, judicial cooperation and development policy cooperation. As regards the EU-Japan relationship, preparations will begin for the launch at next year's summit of talks on a new framework to replace the 2001 EU-Japan Action Plan.

This is the 18th annual EU-Japan summit. Apart from the above mentioned subjects the Summit leaders will also seek to give impetus to the WTO Doha Development Agenda negotiations and other regional issues on the agenda include the response to North Korea’s satellite launch; the fighting in northern Sri Lanka; international support for Afghanistan and Pakistan; and dealing with piracy off Somalia. They will also discuss the EU-Japan economic relationship, including how to use existing dialogue mechanisms more effectively to address regulatory issues and to facilitate balanced two-way Foreign Direct Investment flows. Japan was identified as a strategic partner of the EU in the European Security Strategy of 2003. Bilateral relations are based on the 2001 Joint Action Plan which sets out four main objectives for cooperation: promoting peace and security, cooperating for greater prosperity, assuming global responsibility and the bringing together of people and cultures. Apart from summit meetings, regular dialogue takes place on a host of issues at ministerial and senior-officials level. Japan is the world’s second-largest national economy. In 2007, Japan was the EU’s fifth-largest trading partner (and its third-largest outside the European continent, after the US and China). Total bilateral trade in goods amounted to € 121.9 billion in 2007, with total EU exports to Japan worth €43.8 billion. Two-way stocks of EU-Japan Foreign Direct Investment amounted to €174.8 billion in 2006.

Source :  EU-Japan relations

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