Japan and the European Union agreed Monday to set up a bilateral committee to ease the flow of European direct investment into Japan, an official of the Ministry of International Trade and Industry said.
The agreement was reached in a meeting at MITI between International Trade and Industry Minister Takeo Hiranuma and European Commissioner for Trade Pascal Lamy.
Despite the recent surge in direct foreign investment here, thanks to large-scale mergers and acquisitions, Lamy is seeking more European investment in Japan through the establishment of the bilateral committee, according to the official.