EU Trade Commissioner Cecilia Malmström affirmed this week that the 28-member bloc is “very close” to finalising talks for a bilateral free trade agreement with Japan, following nearly four years of negotiations to date. Speaking to the Financial Times, Malmström maintained that a conclusion to negotiations in the coming months is still feasible, potentially this year or early next. Officials had earlier suggested that they hoped to reach an “agreement in principle” by the end of 2016. (See Bridges Weekly, 4 May 2016 and 2 June 2016 ) A statement issued by Japan’s Ministry of Affairs late last month similarly suggested that the two sides are working to conclude an “agreement in principle” in the near term, potentially by year’s end. Along with a free trade agreement – referred to by Japan as an economic partnership agreement – both trading partners are working to ink a Strategic Partnership Agreement covering areas such as climate and environment cooperation, development, and security. The planned agreement would potentially cut tariffs, lower regulatory and non-tariff barriers, improve services and public procurement market access, and strengthen the rules in place to promote trade and investment between Japan and the EU. The Asian economy is the...