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UK and Japan sign first post-Brexit trade agreement

Fri Sep 11, 2020
watermark Economic news

Today it became known that the UK and Japan signed the first trade agreement after Brexit. At the moment, Britain is in the process of difficult negotiations on a trade deal with the European Union, and London called the conclusion of an agreement with Japan historic.

Since leaving the EU on January 31 this year, the UK has focused on negotiating new trade deals with countries around the world. However, experts doubt that this will compensate for the export volumes that would be lost without a trade deal with Brussels.

UK Foreign Trade Secretary Liz Truss noted that 99% of UK exports to Japan will be duty-free and that the agreement will increase trade by £15.2 billion ($19.4 billion) over the long term compared to 2018.

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