By responding to the strongly expressed wish of the candidate countries, the European Union is showing that it is able to rise to a major historic challenge. The formal accession process opened on 30 March this year with all applicant countries. Negotiations started with Poland, the Czech Republic, Hungary, Slovenia, Estonia and Cyprus. For the other countries in the region, there will be regular progress reviews as their reforms proceed. And it is important to stress that these countries will have the opportunity to catch up, and to join the EU when they have done so.
Japan too faces major challenges.
Mastering them is important not only for Japan itself but also for its partners. For Japan is in every sense a key partner for the European Union, in Asia and in the world. And together with the United States, the EU and Japan form the main pillars of the global economy. The rest of the world was impressed by the modernisation and transformation of Japan from the early Fifties. This brought Japan right to the top of the world economic league - the second largest national economy and the largest creditor country.