UK, Japan Make Progress on FTA, Expect to Conclude by End of August

The United Kingdom and Japan made progress toward a free trade agreement during meetings last week and expect to finalize the deal’s details by the end of August. The two sides reached “consensus on major elements” of the deal, Elizabeth Truss, the U.K.’s trade secretary, said Aug. 7. Japanese Foreign Minister Toshimitsu Motegi said “a substantial agreement has been reached in most of the 24 chapters,” according to an unofficial translation of a transcript of an online press conference. Motegi said the negotiations have focused on e-commerce trade, rules of origin and other “market access issues,” adding that the two sides “agreed to aim for a general agreement by the end of August.” The two countries began negotiations June 9 (see 2006090025).