Japan's PM says UK would be welcomed to TPP with open arms

London, October 9: Japan's Prime Minister has said Britain would be welcomed into the Trans-Pacific Partnership (TPP) trade deal with "open arms" after it leaves the European Union (EU). While the UK would lose its role as a gateway to Europe after Brexit, it would retain its global strength.

 

Shinzo Abe also urged the UK and EU to use wisdom to avoid a no-deal scenario. The TPP is a trade agreement between 11 countries, including Japan, Canada, Australia and Malaysia. US President Donald Trump withdrew his country from the agreement last year, soon after entering the White House.

Abe's comments have been welcomed by Brexit supporters, including international trade secretary Liam Fox, who argue Britain would be able to strike trade deals more easily outside the EU. The UK is due to leave the EU on 29 March 2019.

Focusing on Brexit negotiations, Abe expressed concern over the prospect of a disorderly Brexit, as well as the wish for minimum disruption for the global economy and, naturally, Japanese business.

Japan is the world’s third-largest economy by nominal GDP and the fourth largest by purchasing power parity (PPP). It is also a major investor in the UK, particularly in car manufacturing, electronics and the pharmaceutical industries, both of whom will be severely disrupted by Brexit. Abe urged for “wisdom” in the negotiations.