While United States businesses were embroiled in trade wars, Japan advanced The Comprehensive and Progressive Agreement for Trans-Pacific Partnership in 2018 without participation from the U.S. (TPP-11). Now, Japan and the European Union are celebrating the new EU-Japan Trade Agreement, which came into effect on February 1, 2019. Under this agreement, the EU and Japan reported that they have now become the largest open trade zone in the world.
Anyone forming contracts with Japanese businesses or consumers beware: The Civil Code in Japan is likely to face the largest reforms since it became effective in 1898. On April 14, 2017, sweeping reforms to the Civil Code were approved by the Japanese Parliament’s Lower House. Although they must still be approved by the Upper House, and they might change in the process, pundits expect approval without change.
Foster Garvey’s International practice group comprises a cross-disciplinary group of attorneys practicing in areas ranging from business transactions, immigration, maritime, government regulatory work, transportation and logistics and estate planning. The group members include bilingual and multicultural attorneys who are well-versed in handling these subject matters in a cross-border context. A number of attorneys have been actively practicing in the international arena since the early 1970s.