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EEC Fears Shift in Target of Japan's Exports

July 09, 1986|Associated Press

BRUSSELS — European Economic Community officials, meeting with a high-level Japanese government delegation, said they feared a shift in Japan's export emphasis from the United States to Western Europe.

The EEC considered the shift likely as a result of the yen's rapid appreciation against the U.S. dollar, said Michihiko Ikeda, a Japanese official who briefed reporters Wednesday on the bilateral discussions at EEC headquarters.

Because the yen has risen by a smaller amount against the European currencies, Japanese products have lost relatively less of their competitiveness in EEC markets.

Met for Six Hours

A Japanese delegation led by deputy foreign minister Reishi Teshima met for about six hours with an EEC group led by Leslie Fielding, director general of external relations.

Besides their bilateral trade relations, the two sides discussed the prospects for opening a new round of global trade liberalization negotiations and the outlook for growth in the Japanese economy and an increase in Japanese imports of finished goods, Ikeda said.

Relations between the EEC and Japan have been strained by a widening of Japan's trade surplus with the 12-nation community, which last year exceeded $13 billion.

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