The government has secured our first major free trade deal as an independent trading nation with Japan. This deal will boost trade between the two countries by £15.2 billion, creating jobs and delivering new opportunities across every part of the United Kingdom.
The agreement negotiated – in record time and in challenging circumstances – goes far beyond the existing EU deal, as it secures new wins for British businesses in manufacturing, food and drink, and tech industries.
Maria Caulfield MP said “This exciting trade deal will boost trade by £15.2 billion between our two countries, helping to create jobs and drive economic growth throughout the whole of the UK. Our new trade deal is tailored to the UK economy and secures additional benefits beyond the current EU Japan trade deal, giving UK companies exporting to Japan a competitive advantage in a number of areas.”
“Delivering new opportunities for every part of our economy, helping us to bounce back as we recover from coronavirus. UK businesses will benefit from tariff-free trade on 99 per cent of exports to Japan. Our analysis also shows that a deal with Japan will deliver a £1.5 billion boost to the UK economy, and increase UK workers’ wages by £800 million in the long run.”
Pictured is local MP Maria Caulfield with Lyn Truss Secretary of State for International Trade.