Does The Uk Have A Free Trade Agreement With Japan

The agreement is also of much broader strategic importance. It opens a clear path to membership in the Comprehensive Trans-Pacific Partnership – which will open up new opportunities for the UK economy and strengthen our economic security – and strengthens ties with a like-minded democracy, omnipotent and a major investor in Britain. [11] Department of International Trade (2020). United Kingdom-Japan Free Trade Agreement: The UK`s Strategic Approach, May 2020, pp. 28-29. With more than 8,000 small businesses already exporting to Japan, the market is already a lucrative and successful trade route, which should give small businesses that want to grow, stay or start exporting to Japan the security they need for the future. Thank you for your interesting question. The UK FTA strategy lays a lot of light on exploring new markets, as you can read in dits headlines. One way or another, the link with IEDI policy is overlooked. Implementing an inclusive investment strategy takes time, as the government needs to listen to all stakeholders, not only businesses, but also other civil society organizations.

The UK government must be well prepared for future FTA negotiations. [3] UK government press release of 11 September 2020. The agreement is tailored to both economies and has gone beyond existing EU agreements, with great benefits for the digital and data, financial services, food and beverage and creative sectors. The agreement brings together two of the world`s most technologically advanced nations and puts the UK at the forefront of developing new global standards for digital trade.    The boost to trade between the UK and Japan is estimated at more than £15 billion, with long-term economic benefits essential to „build better“ from Covid-19 and reshape the UK economy so it is ready for the future. After signature, the final text of the treaty will be submitted to Parliament for consideration for 21 session days, in accordance with the Constitutional Reform and Governance (CRaG). The government will also publish a full report on the agreement explaining CEPA, including any substantial differences or improvements between CEPA between the UK and Japan and the EU-Japan agreement. Thank you for this really interesting analysis. I do not understand why the United Kingdom does not seem to have negotiated a broader chapter on investment protection.

As you say, this would have allowed the British Government to say that it has improved the free trade agreement between the EU and Japan. At the same time, it would also have sent a positive signal to Japanese investors that they are still valued (this is important because I imagine many are probably quite negative over Britain.