The Japanese Minister of Foreign Affairs, Toshimitsu Motegi, has welcomed the post-Brexit free trade agreement reached this Friday between Japan and the United Kingdom, which he has said will guarantee “continuity” in the relations of both countries. “The agreement will allow the continuity of the advantages that Japan has obtained from the free trade agreement between Japan and the European Union (EU) and will guarantee business continuity of Japanese companies, “Motegi said in statements to journalists after the video call with London in which the agreement was finalized.
Motegi has assured that in the conversation with the British Minister of International Trade, Liz Truss, both parties agreed on speed up the process to sign the agreement and ratify it, with the aim that it comes into force from January 2021, according to the details collected by the Kyodo news agency.
At a press conference shortly thereafter, Government Spokesperson Yoshihide Suga was involved in the campaign to become the new leader of the ruling party. and succeed Shinzo Abe as Prime Minister After resigning, he said that the pact “will be an important basis to further strengthen good relations between Japan and the United Kingdom,” according to the public channel NHK.
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This is the first significant bilateral agreement reached by London after its departure from the EU and is expected to strengthen its economy by some 15,000 million pounds (16,090 million euros). Within the framework of the agreement, that drinks from the one reached between Japan and the EU, the Asian country will allow 99% of British exports to the country to benefit from tariff-free trade.
It will also support auto industry investments “through reduced rates on parts from Japan, simplified procedures and greater legal certainty for its operations, “said the British ministry without giving more details about one of the most important points for Tokyo.
Under the agreement reached by Japan and the EU, the community area committed to phase out tariffs of the 10% that weigh on Japanese car exports by 2026.