EU, Japan race to overcome obstacles to trade deal

Japan and the EU are racing to leapfrog obstacles holding up a much-anticipated free trade deal between the world's third economic power and its leading market, officials said on Tuesday.
With little over three weeks to go before an EU-Japan summit provides the backdrop for announcing an historic deal to launch free trade talks, Tokyo's Foreign Minister Takeaki Matsumoto held a whirl of talks with European Union officials Monday and Tuesday.
"This is a very important moment for Japan," his spokesman Satoru Satoh said. "Japan is suffering from the quake and tsunami, the economy is our most important task."
"The launch of an economic trade agreement now would be a good gesture."
There were no signs of tangible progress after Matsumoto's face-offs with the EU's Trade Commissioner Karel De Gucht and Internal Market Commissioner Michel Barnier, according to sources on both sides questioned by AFP.
But European business officials and EU sources voiced optimism about a breakthrough before this year's annual Japan-EU summit on May 27 and 28.
"They were good, cordial meetings, we hope to move forward to open negotiations," said an EU source.