each member of the team is to receive francis highest civilian honor at the mission . that monica jones will have more on the big japan trade deal that's coming right up in business. moving the fund be to. his work in the congress for train up. the maestro and feed. the children tom twenty two.

we make up over a week watches over half of that kind of budget fights we are the sum of services. they want to shape the continent's future to. be part of africa numb stares as they share their stories their dreams and their challenges. a seventy seven percent. platform africa charge. a deal that creates one of the world's largest trading blocs the european union and to pound sign a free trade deal it embraces a third of the global economy and more than six hundred million people. also coming up as europe looks to asia for free trade the french ports. laughs a hopes to

become an important part thanks to china's one belt road project. welcome to do business the e.u. and japan today agreed a free trade deal which will create the world's biggest open economic area addressing the press after a signing ceremony in tokyo you counsel president on a task said to the deal sent a strong message against protectionism together the e.u. and japan make up almost a third of global g.d.p. now after five years of negotiating the two sides have reached a deal that creates the world's largest open economic area addressing the press after a signing ceremony in tokyo european council president donald tools kept this to say. graphically we are far apart but politically economically recruit hard to be in the close. we both firmly believe in open live

corp rules based international order and free trade the two blocks are ready have a pretty balanced trade relationship last year the e.u. exported goods and services worth seventy eight billion euros to japan and imports are just a little less that trade volume is expected to increase substantially as a result of the deal. the agreement will see the removal of a host of trade barriers enabling the e.u. to export products like milk nice and wine to japan without paying tariffs the e.u. in turn will no longer demand ten percent tariffs on japanese cars a move that comes as good news for a well known japanese brands like toyota nissan and mitsubishi. the deal still needs to be ratified by the european parliament if all goes to plan the agreement will go into effect in the autumn of twenty nineteen. of

a more on that deal let's cross over to give our. correspondent in brussels and our financial correspondent in frankfurt i'd like to start with you georg according to the european commission the e.u. japan deal is the largest ever negotiated by the e.u. how significant is this is especially right now in times of protectionism. we're going to of course there is the economic value of this massive trade deal but there's also the strategic significance and i would say that at this moment even the the more important part the message here being that close the markets remain open remain rule based and that is why she won't go juncker the head of the european commission in this press conference with the japanese prime minister made clear that there is no protection in protectionism and that there is no unity at a time where there is unilateral isn't a message that one could think could be directed at president trump of course the question is always how well balanced are these kind of trade deals only what would

you say is one side better off than the other and what trade volume are actually talking about. i think they're differently better off than the other but they're pretty well evenly balanced and contrast for example to the trade relationship between the usa and china where it's lopsided in favor of china but the e.u. exports about seventy eight billion euros worth of goods to japan and japan the other way around seventy seven billion so when you eliminate tariffs it pretty well works out to the monetary benefit for both sides but for the e.u. especially it's interesting that a part of this deal is opening up the agriculture and food part of japan which was very very protective now they can import cheeses and other products irish whiskey you know interesting thing is where before japan could put imitation products into its supermarkets for consumers which didn't really come from ireland or from italy

now if it says parmesan or irish whiskey it has to be the real thing it has to be the real party john which is why this deal has also been like tongue in cheek was dumped because of course because of history in germany just briefly is this a competition how do comic cars here react to that i think the competition will increase because when you let tariffs go on japanese cars there are so many brands here they each have a boat two to four percent of market share so there will probably be a few less volkswagens fords or astras from opel sold but the same thing will go the other way around too and german car makers make a good profit from selling a few but they do sell premium cars and japan all right then just one more time to gail because there has been rising protests a backlash against any kind of free trade in recent years and consumer advocates will be warning also about this particular agreement do they have any point. other

commission has rejected that critique saying that the steel deal will not lead to deregulation or privatization but look overall this deal is big in size but not necessarily in ambitions or social standards are not part of it critics here say but also of the commission has learned their lesson from the canada free trade deal sita so the whole issue of of investment protection and the whole issue of dispute settlement courts has been left out with the advantage that ratification is a lot easier so all that is needed now is thumbs up from the european parliament and from the councils over america e.u. member states and national parliaments will not have to give a green light for this deal. in brussels and in frankfurt thank you very much to both of you. now jeff bezos might call his warehouses fulfillment to send to us but amazon workers across europe feeling anything but fulfilled thousands of employees

are walking off the job today at six amazon warehouses here in germany to fight for labor contracts that guarantee healthy working conditions the strikes began in spain and poland coinciding with amazon's prime day workers in poland staging a work to rule action amazon expects only a fraction of its twelve thousand workers here in germany to join the strike. but china has been building the new silk road to the so-called one belt one road project for five years billions of euros to be invested in infrastructure worldwide in order to expand trade routes the sting the economy in china of the new silk road will also go through the french port city of say it's looking to raise its profile on international markets. this investor is hoping the new myth sixty eight transshipment center for fashion will become a permanent hub on the new silk road

a sea route for goods from northern china that leads through the suez canal to maher say. this is a real opportunity to become a hub for trade with china will be offering a wide range of products here starting with fashion and then other goods for instance from the tech sector i think in the time when i think. so far about ninety mainly chinese traders have set up shop here. the next phase will see many new businesses because this center isn't just a gateway to the french market. i think our goal is to become a hub for businesses across southern europe italy and spain for instance are looking to create training links to countries in north africa such as algeria with which there is a shared history you may have sixty eight could connect all these countries with china. the city administration is all too happy to get in on the silk road

action china's largest shipping company has made marsay its main trading base in europe a chinese tire factory is also due to be built here soon and expanded access to the french market however will need to be a two way street. but of course we hope that more foreign companies will do business with us so we can lower unemployment here the chinese are more than welcome but in return they need to open up their markets to our products after all products from provence such as oil as wines and soaps are very popular in china. at least one economist doubts french exporters will be able to sell more in china even if beijing shows the political will. this road infrastructure project won't really change france's trade deficit with china it comes down to competitive pricing the french products are generally more expensive. with french government

should be aware of this it's also a bit wary that the silk road will be used to peddle influence. that's why it shielding certain strategic sectors. of the head of the fashion hub thinks apprehensions of burgeoning chinese influence are overblown. we need to stop peddling all these horror stories i think the situation is similar to the post world war two cario. at that time american investment in europe was also knew that despite the current trade conflict the u.s. is still an important economic partner now it's china's time we need to work together with the chinese in other words he believes the prints need to follow china's lead if they do this transshipment center will not only be a major import hub it will also open the door to expanding exports to china. well it has all the telltale signs of a sure fire blockbuster and that is why china's three main film production houses

hopped on board but instead of busting the block the fantasy film asura has just been a big bust the one hundred twelve million dollars film only raked in a humbling seven and a half million dollars on its weekend's def you film tells the story of a shepherd protecting a heavenly realm it features big name chinese activist and it's loaded with special effects well now producers planning on reworking the film and releasing it at a later date to hopefully three kuku the one hundred five million dollars they lost . surely looks interesting as your business update here on new more at the top of the next hour as he then.

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