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Thursday, 19 September 2019
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Markets & companies, Coatings market

EU round up – paint sector could benefit as EU and Japan launch trade talks

Monday, 11 February 2013

European Union (EU) and Japanese paint and coatings exporters could benefit from a future free trade deal, with the European Commission announcing that formal trade talks between these two developed world giants will go ahead.

In 2011, according to international trade data, the EU exported USD 33.1 million worth of polymer-based non-liquid paints and varnishes to Japan. Source: Frank Eckgold - Fotolia.com
In 2011, according to international trade data, the EU exported USD 33.1 million worth of polymer-based non-liquid paints and varnishes to Japan. S...

Brussels’ directorate general for trade is stressing that Japan must make offers to remove its notoriously tough non-tariff barriers – such as trade licensing and other red tape – for the talks to succeed. Indeed, EU trade Commissioner Karel De Gucht said: "We explicitly reserve ourselves the right ‘to pull the plug’ on the negotiations after one year if Japan does not live up to its commitments on removing non-tariff barriers.”

The Commission is convinced there is money to be made in Japan. Indeed, in 2011, according to international trade data, the EU exported USD 33.1 million worth of polymer-based non-liquid paints and varnishes to Japan, of which USD 20 million worth was based on synthetic polymers. Currently, the EU paints sector is lightly defended by tariffs against Japanese imports – and these duties would probably disappear under an agreement. For instance, EU duties on non-liquid polyester-based paints and varnishes and liquid acrylic or vinyl polymer-based paints and varnishes exported from Japan are currently 6.5 %. It is the same for most non-liquid-based acrylic or vinyl polymers, although those based on polyurethane already enter the EU duty free.

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