Europe And Japan
Japan And Europe
noun
The 日 refers to Japan (It's the 日 of 日本). So, you have Japan and Europe, which is Japan and Europe or Europe and Japan.
にちおう
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
日欧貿易に関する会議は、司会者の不在によって横道に逸れてしまった。
The meeting concerning trade between Europe and Japan was sidetracked due to the moderator’s absence.