Brussels, 04/04/2001 (Agence Europe) - After over five years of negotiations, the European Union and Japan signed, on Wednesday, a Mutual Recognition Agreement (MRS) with a view to reducing costs entailed by certification procedures applied by both parties to pharmaceuticals, chemicals and electrical and telecommunications equipment.
The agreement could cover trade worth an estimated EUR 21.358 billion annually and allow exporters annual savings of around EUR 400 million. According to the European Commission, the agreement should be ratified before the summer by the EU Council of Ministers and by the Japanese Parliament, so that it may come into force during the autumn. Welcoming this step, Pascal Lamy, Trade Commissioner, said he was convinced that the agreement would "contribute significantly to facilitating trade between the EU and Japan".
It has taken more than five years to have the agreement signed, due to the complexity of the certifying systems of both parties in the areas concerned, namely telecommunications terminal equipment and radio equipment, electrical products, Good Laboratory Practice for chemicals and Good Manufacturing Practice for medicinal products.
The agreement will establish mutual recognition of the results of certifying procedures of both parties. In other terms, it will make it possible to test, inspect and certify in the country of origin rather than in the country of destination the products traded between the two partners. The EU is negotiating agreements of this kind with its main trade partners to facilitate the trade in industrial products. We recall that MRAs have already been signed with the United States, Canada, Australia and New Zealand.