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Sources from five EU countries said the goal of the latest whirlwind of diplomatic activity is for Japanese Prime Minister Shinzō Abe to jet into Brussels for a summit July 5 or 6, ahead of a G20 summit in Hamburg on July 7. The intention is to reach a political deal covering more than 90 percent of a trade agreement, leaving only a handful of issues to be resolved later.
European Trade Commissioner Cecilia Malmström wants to cast the EU as the new global leader in free trade, and a deal with the world’s third-biggest economy would issue a defiant counter-blast against U.S. President Donald Trump’s protectionist agenda. In recent remarks, Malmström called an accord with Tokyo her “main priority in the short term.”
Trade talks have entered a “decisive” phase of two or three weeks, diplomatic sources said, with a 19th round of negotiations scheduled for next week. EU chief negotiator Mauro Petriccione will be in Tokyo beforehand, laying vital groundwork for what diplomats hope will be a final heave toward the finish line.
Japan is the EU’s sixth-biggest trading partner, and the two parties posted total trade of about €125 billion last year. Between them, the EU and Japan represent nearly 30 percent of global gross domestic product. [...]