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UK and Japan agree on a trade agreement




Under an agreement between London and Tokyo, 99% of British exports to Japan will be duty-free. The agreement is due to enter into force on January 1, 2021.





The UK and Japan have reached agreement on a trade agreement between them, due to take effect on January 1, 2021, the British Foreign Trade Office said on Friday 11 September. Under the agreement — the first since the United Kingdom leaving the European Union — 99% of British exports to Japan will be duty-free.

London noted that as a result of this agreement, the volume of trade with Japan could grow by 15.2 billion pounds per year (about 16.5 billion euros). In addition, the ministry added, an agreement was reached on cooperation in the field of digital technologies, which goes far beyond the provisions of the trade agreement between Tokyo and the EU and will be aimed at supporting British financial and technological companies operating in Japan.

In mid-August, after a short summer break, the dialogue between the UK and the EU on relations after Brexit resumed. Michel Barnier, head of the EU delegation to London, said on August 19 that “with or without an agreement” changes are inevitable for businesses and citizens to prepare for them. Another round of trade negotiations with the EU was held in London on September 8



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TAGS: BRITAIN, JAPAN, ECONOMY

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