Japan-U.K. Trade Deal Talks See Effective Agreement

Politics

London, Aug. 7 (Jiji Press)--The Japanese and British governments on Friday reached an effective agreement in their negotiations on an economic partnership agreement for free trade, aiming to put the bilateral deal into effect at the beginning of 2021.

The effective accord was made through talks held from Thursday between visiting Japanese Foreign Minister Toshimitsu Motegi and British International Trade Secretary Elizabeth Truss.

At a press conference after the two-day negotiations, Motegi said that the two sides effectively agreed on most items in the envisaged trade deal and came to share the recognition on key issues.

Japan and Britain intend to reach a broad agreement by the end of this month and put the trade deal into force on Jan. 1, 2021. Motegi stopped short of going into details about Friday's effective agreement.

Preferential tariff measures applied for trade between Japan and Britain under the Japan-European Union EPA are set to expire at the end of this year following Britain's exit from the EU. But confusion in corporate activities will likely be avoided if the Japan-Britain trade deal goes into effect at the start of next year.

[Copyright The Jiji Press, Ltd.]

Jiji Press