Enterprise Europe Network

Weekly digest - EU news for businesses 23/07/2018

EU policies for better business

Better rules to ensure financial stability and investor protection. New EU rules on money market funds have entered into application last week. During the last financial crisis, money market funds proved vulnerable under stressed market conditions. The new rules make these funds more resilient and limit possible contagion channels to other financial entities and the financial system in general.

EU-Japan Summit: a landmark moment for trade and cooperation. At the 25th EU-Japan Summit, which took place in Tokyo last week, two agreements have been signed that will significantly boost bilateral trade (the Strategic Partnership Agreement and the Economic Partnership Agreement). The Economic Partnership Agreement between the EU and Japan creates an open trade zone covering over 600 million people and nearly a third of global GDP. It will remove the vast majority of the EUR 1 billion of duties paid annually by EU companies exporting to Japan, and has led to the removal of a number of long-standing regulatory barriers, for example on cars.

New tool to show EU towns and cities exporting to Japan. Interested in what opportunities the EU's trade deal with Japan might bring to your country or your home town? The new tool developed by the European Commission includes infographics for each EU country, detailing the number of exporting companies, the number of jobs supported by exports to Japan, a list of products exported from each member state, and other import/export statistics.

Provisional safeguard measures on imports of steel products. Last week, the European Commission published a regulation imposing provisional safeguard measures concerning imports of steel products. These measures will address the diversion of steel from other countries to the EU market as a result of the recently imposed US tariffs. The safeguard measures will come into effect on Thursday 19 July and won’t affect traditional imports of steel products.

Brexit: European Commission publishes Communication on preparing for the UK's withdrawal from the EU. The European Commission has adopted a document outlining the ongoing work on the preparation for all outcomes of the United Kingdom's withdrawal from the European Union. The UK’s withdrawal from the EU will have repercussions for citizens, businesses and administrations in both the United Kingdom and the EU. These repercussions range from new controls at the EU's outer border with the UK, to the validity of UK-issued licences, and others.

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Updated on 23 July 2018