Cheaper wine and cheese for Japan, cheaper cars for the EU - part of what the EU-Japan trade deal, now in force, means.

Axar.az reports citing BBC.

The world's biggest such deal, it covers nearly a third of global GDP and 635 million people.

However there are warnings that the UK could lose its benefits if it leaves the EU without a deal.

It comes as a trade war rages between the US and China, who have slapped tariffs on each others' products.

The EU's Jean-Claude Juncker said the pact, which took years to agree, was about "values and principles".

Here are three things about the deal:

1) Services as well as Sancerre and Suzukis

The deal's headline is about scrapping duties on 97% and 99% of Japanese and European imports respectively.

Dairy and other food products are among the EU's biggest exports to Japan and the progressive reduction of nearly €1bn ($1.1bn; £0.9bn) of tariffs - nearly 40% on beef, up to 30% on chocolate, 15% on wine and up to 40% on cheese - could boost exports and create jobs.

2) Japan's emergence as a free trade champion

Japan has not historically been that active in free trade talks internationally - but that has now changed.

It led negotiations to salvage a Pacific trade deal - the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP - after the US pulled out.

3) The UK may only be in it for 59 days

The prospects for British exporters are much less certain. If the UK leaves the EU without a deal at the end of March it will fall out of the new free trade area.

If it agrees a deal it is set to remain in the EU-Japan trade deal during the Brexit transition period.