Monday, September 5, 2011

Japan and EU to Explore Trade Pact

Monday, September 5, 2011

BRUSSELS—Japan and the European Union agreed on Saturday to look into a free-trade pact, but their leaders stopped short of launching formal talks for a deal, which Japan sees as crucial for exports to its third-largest trading partner.

"We still have a long way to go, but the objective is now clear," European Council President Herman Van Rompuy told reporters after the summit.

"Some might say we have not gone far enough. I say we should not underestimate the political meaning of our decision," he added.

Mr. Van Rompuy said "the potential economic and political results of the decision are ...

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