Britain published its negotiating objectives for a free trade agreement with Japan, the Department for International Trade (DIT) said.
The agreement is based on the existing EU-Japan Economic Partnership Agreement (EPA).
British manufacturers of textiles and clothing, and professional and financial service providers are expected to be among the biggest winners of lowering trade barriers with Japan.
The DIT also views the trade talks with Japan as “the first logical step” towards joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a replacement pact after the United States exited the Trans-Pacific Partnership (TPP) agreement.
“Negotiations with Japan are an important step in CPTPP accession, a key UK priority, which will help us diversify our trade and grow the economy,” said International Trade Secretary Liz Truss.
And even when negotiators from Britain and Japan start discussions on the terms of a new trade deal, the interests of food producers and powerful domestic lobbies may make getting a deal harder than initially envisaged, according to a report in Japan’s Mainichi News.
