EU, Japan Sign Massive Free Trade Deal

European Union (EU) and Japan have signed Economic Partnership Agreement (EPA). It was signed at EU-Japan summit in Tokyo by EU Presidents Jean-Claude Juncker and Donald Tusk and Japanese Prime Minister Shinzo Abe. 
It is biggest ever trade deal negotiated by the EU and creates free trade zone covering nearly third of the world’s GDP. The trade deal is set to eliminate the “vast majority” of the $1.1 billion in duties that EU companies pay to Japan, according to the European Commission.  
Source- The Economic Times