THE EU AND JAPAN

EU, JAPAN EYE NEW FRIENDSHIP, WEIGH TRADE FRICTION

An EU-Japan summit Saturday seeking to elevate ties between the world's third biggest economy

AFP

AsiaOne, May 28, 2011

BRUSSELS - An EU-Japan summit Saturday seeking to elevate ties between the world's third biggest economy and its leading market to a new dimension, looks set to stumble on prickly differences over trade.

Disaster-struck Japan, struggling to recover from a devastating March tsunami and nuclear meltdown, had pressed the European Union hard for a formal summit announcement of the launch of negotiations towards a free trade deal - an accord worth tens of billions to either side.

But after months of tough talking heightened by a history of trade friction, officials said no such deal would be formally inked as the two sides scrambled to agree wording of a joint text only 24 hours before the summit start.

"This summit cannot launch negotiations but it can send a strong political message that we're seeking to launch negotiations," said an EU diplomat on condition of anonymity.

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