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Japanese Business Leaders Welcomed A Post-Brexit Agreement With Britain

Japanese Business Leaders Welcomed A Post-Brexit Agreement With Britain

The new free trade agreement agreed by Tokyo and London was welcomed by representatives of the Japanese business Federation on September 12, the Mainichi newspaper reports.

"While many countries are looking inward due to the spread of the infectious disease, (the pact) will lead to a further opening and liberalizing of trade and investment," said Hiroaki Nakanishi, Chairman of the Japan Business Federation.

According to him, the deal will increase the chances of the UK joining the TRANS-Pacific free trade agreement, which covers 11 countries, including Japan.

A free trade agreement is currently in force between Japan and the European Union. However, at the end of the year, Britain should already complete its exit from the EU, and the countries will need a new Treaty.

The deal was agreed in principle by Japanese foreign Minister Toshimitsu Motegi and UK international trade Minister Liz Truss this Friday.

"Maintaining the business relationship between Japan and the UK means a lot," said Kengo Sakurada, Chairman of the Japan Association of corporate executives.

Akio Mimura, Chairman of the Japanese Chamber of Commerce and industry, said the deal is "progressive" and "well-balanced."

Ken Kobayashi, who heads Japan's foreign trade Council, said the pact "will allow the two countries to achieve even greater economic prosperity."

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