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Objectives for UK-Japan trade talks

07:49 23 June in Asia Pacific, Japan by Jess Harrison

The UK and Japan are both vocal champions of free trade and the rules-based global trading system.

In Spring 2020, the Government published data that suggests the UK economy could benefit from a £1.5 billion boost by having a FTA with Japan, as a UK-Japan trade deal could increase trade flows between both countries by £15.2 billion.

Masako Eguchi-Bacon, CEO of TVCC’s Partner, Oceanbridge Management Ltd commented:

‘The UK-Japan FTA objectives issued by the DIT illustrate the intention of both countries to achieve a comprehensive deal; not only for hardware and customs, but also services, regulations, intellectual property, sustainability and equality.
As businesses and services become more connected globally, the importance of interoperability and interconnectivity is increasing. Compatible regulations and standards are key to facilitate entry to each countries’ markets.
We should not forget that the UK’s agreement with the EU will influence Japanese commercial investment into the UK, and whether the UK can hold an attractive position for Japanese companies as an entry point to the European market’

 

Read the full article HERE.

Read the Department for International Trade’s (DIT) objectives for UK-Japan trade talks HERE.