Brexit-wary Japan executives to talk with United Kingdom trade chief

31 August, 2017, 00:46 | Author: Darrell Lopez
  • Kim Jong-un

Since the shock Brexit vote, Japan has expressed unusually strong public concerns about the impact of Brexit on the United Kingdom, the second most important destination for Japanese investment after the United States.

May said she was pushing for the completion of an EU-Japan trade deal, which could then be used as a model for a future British-Japan trading agreement.

Speaking to reporters on her way there the prime minister said that adopting existing European Union agreements wholesale would apply for other countries for an initial period. The freedom to strike new trade deals independently of the European Union has been highlighted by the government as a major benefit of Brexit, but businesses have repeatedly voiced concerns about how existing trade relationships will work after leaving the bloc. She is also meeting Emperor Akihito tomorrow before wrapping up her trip. May - who arrived in Osaka Wednesday and is to attend a traditional tea ceremony in nearby Kyoto - will also be discussing issues tied to global terrorism and regional security, after North Korea sharply escalated regional tensions by launching a ballistic missile over Japan on Tuesday. May also strongly condemned the launch. The two leaders will hold a summit today in Tokyo. The country's investment in Britain has also reached more than £71 billion according to the Daily Telegraph. The visit is aimed at strengthening Britain's relationship with key worldwide investors ahead of the split.

The firm is hoping to boost demand from Japan and the United States partly as a way to mitigate against any risks from Brexit which could add costs and delays to the 15 percent of cars it now sells into the European Union.




Senior government minister Yasutoshi Nishimura suggested yesterday that Japan needed the British Prime Minister to ease a "sense of crisis" among businesses that are heavily invested in the UK.

"We need to make use of Prime Minister May's visit for conveying Japan's stance to various levels (of officials) in Britain and European Union".

Establishing that principle has become a key objective as Mrs May seeks to avoid Brexit cliff-edges.

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