Japan and the EU agreed yesterday (27 March) to a reduction in Japan’s 1996 quota for exporting vehicles to the Union

Date: 28/03/1996

to 1.066 million from last year's 1.071 million. This cut was expected given that Japan failed to use up its 1995 quota and the predicted slowdown in demand in the EU. The agreement is part of the EU-Japan Voluntary Export Restraint accord signed in July 1991 and due to expire in 1999.