EEC nips the Japs
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JAPAN HAS agreed to "moderate" exports to the EEC of small vans and forklift trucks as part of a trade deal reached with the EEC Commission in Tokyo this month.
The agreement, however, does not commit Japan to any figures and merely rules out the possibility of a sudden surge in exports of these vehicles over the next few years.
In practice, the EEC will accept as "moderation" an annual gross rate of its exports of around three per cent.
During the first six months of last year Japan exported 30,717 light vans to the EEC with 11,588 going to Greece and 6,259 to Britain.
Exports of forklift trucks to the EEC countries totalled 7,814 during the first 10 months of last year.
In both cases the figures were only slightly up on 1981 and showed no signs of a dramatic rise.
The EEC Commission will keep a close watch to ensure that Japan respects the deal and there will be meetings evey three months with Japanese trade officials.
Brussels considers the trade agreement to be satisfactory and will make it unnecessary to impose restrictions on Japanese imports.
But EEC governments are taking a cautious attitude and are waiting to see concrete results.