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Business News (more headlines) 07-24-2017

Global Recording Industry Welcomes EU-Japan Trade Agreement

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At the EU-Japan Summit, Prime Minister Shinzo Abe, Donald Tusk, President of the European Council, and Jean-Claude Juncker, President of the European Commission announced political agreement on the EU-Japan Free Trade Agreement/Economic Partnership Agreement between the European Union (EU) and Japan.

Commenting on the announcement, Frances Moore, chief executive IFPI, representing the recording industry worldwide, said:

"We welcome the announcement of the agreement in principle on the EU-Japan FTA/EPA. The agreement extends the term of protection for sound recordings in Japan to match the term of protection in the EU. This is an important development for the Japanese music market which is the second largest by value in the world.

"While there was no final agreement on the recording industry's request for performance rights in Japan, the EU and Japan have agreed to continue to discuss the issue so we will continue to press for a solution to be found.

"We congratulate both negotiating teams and call upon the EU and Japan to proceed swiftly with the finalisation of the text and the ratification process."

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