Japan, Britain sign post-Brexit free trade deal_china

  • Japan, Britain sign post-Brexit free trade deal_china

Japan, Britain sign post-Brexit free trade deal_china

"We have been repeatedly clear that any agreement needs to be in place before the end of the transition period", said Johnson's spokesman, who added that "it is obviously for the European Union to determine the length of time it needs for ratification".

The UK-Japan Comprehensive Economic Partnership Agreement (CEPA) was signed by International Trade Secretary Ms Truss and Japan's Foreign Minister Motegi Toshimitsu in Tokyo on Friday. But the new deal largely replicates the trade agreement Britain had with Japan as part of the EU.

Japan is already a member of the CPTPP, which also connects Canada, Australia, Brunei, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

And across the pond in the Americas, a range of nations are set to embark on new trading relationships with Britain. "What we have now, after all sorts of politics being played, is a process that is back on track", Simon Coveney said, adding, however, that both sides remained "miles apart" on fishing.

"Newcastle is a hub of computer gaming firms - Assassin's Creed was developed there - but at the moment there are lots of barriers to selling into foreign markets".

Ms Truss's optimistic comments come as "intensive" talks between London and Brussels entered a second day.

"Every day counts", the EU's chief negotiator Michel Barnier told reporters as he re-started face-to-face negotiations with United Kingdom counterpart David Frost in London on Thursday (22 October).

"I think a deal can be done, I've said that for quite some time".

"We have a huge common responsibility". That arrangement also stands in the current Japan-EU trade agreement.

"It secures major wins that would be impossible as part of the European Union and brings together two of the world's most technologically advanced nations", her ministry added in a statement.

Exporters have been promised "more straightforward" customs cost and procedures with the UK's 13th most important trading partner after global trade secretary Liz Truss and Japanese foreign minister Motegi Toshimitsu signed a deal in Tokyo.

It follows over four months of negotiations often carried out by video-conference due to the coronavirus pandemic.

Critics pointed out that the trade deal with Japan will increase U.K. GDP by only 0.07%.

The deal brings together two of the world's most technologically advanced nations and will provide big benefits for digital and data, financial services, food and drink, and creative industries.