Although cultural and noneconomic ties with Western Europe grew significantly during the 1980s, the economic nexus remained by far the most important element of Japanese-West European relations throughout the decade. Events in West European relations, as well as political, economic, or even military matters, were topics of concern to most Japanese commentators because of the immediate implications for Japan. The major issues centred on the effect of the coming West European economic unification on Japan's trade, investment, and other opportunities in Western Europe. Some West European leaders were anxious to restrict Japanese access to the newly integrated European Union (until November 1993, the European Community), but others appeared open to Japanese trade and investment. In partial response to the strengthening economic ties among nations in Western Europe and to the United States-Canada-Mexico North American Free Trade Agreement, Japan and other countries along the Asia-Pacific rim began moving in the late 1980s toward greater economic cooperation.

On July 18, 1991, after several months of difficult negotiations, Prime Minister Toshiki Kaifu signed a joint statement with the Dutch prime minister and head of the European Community Council, Ruud Lubbers, and with the European Commission president, Jacques Delors, pledging closer Japanese-European Community consultations on foreign relations, scientific and technological cooperation, assistance to developing countries, and efforts to reduce trade conflicts. Japanese Ministry of Foreign Affairs officials hoped that this agreement would help to broaden Japanese-European Community political links and raise them above the narrow confines of trade disputes.

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