Agreement With Japan
You can almost hear the sighs of relief that resonate in Westminster and in the business world. He added that the comprehensive economic agreement between the UK and Japan “goes beyond the existing EU agreement”. Increased mobility for businessmen – more flexibility for Japanese and Uk companies to bring talent to each country, and covers a number of UK professionals who come to Japan, from IT services to construction. These include obligations that go beyond the EU-Japan agreement for investors, spouses and dependants, as well as a wider range of intra-company transfers. Visa requirements will be clear, transparent and aim to be processed within 90 days. A worker who moves from their UK headquarters to the Tokyo office can bring their spouse and relatives and stay for up to five years. The agreement also includes a strong commitment from Japan to support the UK`s accession to the Trans-Pacific Partnership (TPP), one of the world`s largest free trade areas, which covers 13% of the global economy and more than £110 billion in trade in 2019. This will help strengthen the trade relationship between the UK and the 11 Pacific countries and set new standards for global trade. This signature marks a new, closer alliance between the UK and Japan. In this area, our two like-minded democracies will work together when the UK assumes the presidency of the G7, where we commit to free trade. Japanese Foreign Minister Toshimitsu Motegi said: “The negotiations have been very difficult, but we have reached an agreement in principle in about three months, at an exceptionally fast pace. This is a historic moment for Britain and Japan, our first major trade deal after Brexit. The agreement we have negotiated – in record time and under difficult circumstances – goes far beyond the existing EU agreement, as it ensures new benefits for British companies in our major industries in the manufacturing, food, beverage and technology sectors.
Most importantly, the SPA opens a whole new era of global cooperation between the EU and Japan in many areas such as climate change and environmental protection, information society and cyber issues, space, development and economic policy, culture, science, technology and industrial cooperation, the fight against corruption, money-laundering, illicit drugs and terrorism, as well as the issue of weapons of mass destruction and conventional weapons. Over the next few years, Brussels and Tokyo should make good use of every clause in this agreement to maximise its impact. The SPA also offers new opportunities for cooperation between the EU and Japan in the field of security, which could constitute an important geopolitical development. The UK has struck its first major trade pact after Brexit, after signing a deal with Japan to boost trade between countries of around £15 billion. Business leaders welcomed the agreement, but stressed that safeguarding an agreement with the EU remained the main objective. The transition period for Brexit will have expired by then, meaning Britain will be excluded from the EU-Japan deal it is currently subject to. “We urge ministers to redouble their efforts to achieve a comprehensive partnership with our largest trading partner at a crucial time in the negotiations.” Sharp tariff cuts for UK pork and beef exports – We have negotiated an agreement that reduces tariffs on pork, beef, salmon and a number of other agricultural exports. . . .