Japan Hopes to 'Quickly' Sign Trade Deal With UK

Japan hopes to quickly reach a trade agreement with the United Kingdom after Brexit based on the European Union-Japan Economic Partnership Agreement, two Japanese officials said Jan. 31. Japan wants to “promptly” agree to a trade deal with the U.K. to minimize impacts on Japanese companies after Brexit, Japan’s minister of economy, trade and industry said during a press conference, according to an unofficial translation of a transcript. “If a trade agreement between the U.K, and the [European Union] is not reached by the end of the transition period, the activities of Japanese companies may be adversely affected,” the minister said. “The idea is to work on construction quickly.” Japan will continue to operate its Brexit Service Desk (see 1910040013) during the transition period, the minister added.

Japan’s foreign minister said the two governments will “work quickly” on a trade deal, and Japan supports “the possibility of U.K. participation in” the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. “We hope that after negotiations on the economic activities of Japanese companies, the impact on the global economy will be minimized,” the minister said.