The UK on Wednesday, May 13, published its negotiating objectives for a free trade agreement with Japan, with talks beginning shortly.
The agreement will be based on the existing EU-Japan free trade agreement and will aim to secure additional benefits for UK businesses trading with Japan.
We’re optimistic that an agreement with Japan can give us security at home and opportunities abroad.
It would help improve the resilience of our supply chains through diversity and opening new markets for business, bringing investment, better jobs, higher wages and lower prices, at a time when we need them most.
Government analysis published shows that the UK economy could benefit from a £1.5 billion boost, as a UK-Japan trade deal could increase trade flows between both countries by £15.2 billion.
More trade is essential in helping the UK overcome the unprecedented economic challenge posed by coronavirus.
The first round of talks will start shortly using video conferencing, with negotiations continuing to take place remotely until it is safe to travel.
The UK’s negotiating objectives include ensuring high standards and protections for UK consumers and workers throughout the agreement and building on our existing international obligations.
This will include not compromising on our high environmental protection, animal welfare and food standards, and ensuring both parties meet their commitments on climate change.