Japan trade accord becomes post-Brexit priority for UK

Sam Lowe, a trade expert at the Centre for European Reform, a think-tank, said the UK’s new commitment to try and get a fully-fledged FTA with Japan made sense. “Until now the UK has been talking up the need to secure FTAs with Australia and New Zealand but Japan is a much bigger economy and matters a lot more,” he said.“Politically, it’s also important for the UK to show Japan that it’s a top priority in trade relations. The Japanese are furious over Brexit and see it as a betrayal of trust after decades of Japanese investment in the UK economy.”
However, Mr Lowe said it will be difficult for the UK and Japan to make quick progress on a trade deal. “Japan is quite protectionist and it will want to reduce the amount of access the UK has to the Japanese economy, especially in agriculture,” he said.