Japan and EU inked trade agreement: Media

The European Union and Japan have signed a free trade agreement that deemed the largest bilateral trade deal ever, which will erase 99 per cent of tariffs that cost businesses in both countries nearly USD1.17 billion annually, media reports said.

The Economic Partnership Agreement (EPA) is the result of four years of negotiation between Japan and the European Union and was finalised in late 2017. The agreement will come into effect in 2019.