PM Theresa May visits Japan with the goal of signing ‘lofty’ trade deals post-Brexit
Source : NewsBharatiDate : 31-Aug-2017
London, August 31: Amidst the Brexit and divorce bill negotiations with the European Union, Britain is facing the worse nightmare this time. Prime Minister Theresa May stands seemingly confident and tries to gather as many allies as possible before UK leaves the EU. To gather support, May began a short trip to Japan to retain the terms of a nearly-finalized EU-Japan trade deal post-Brexit.
"There's obviously a number of trade deals that the EU has with other countries and we are looking at the possibility of those being able to be brought over into… trade deals with the United Kingdom," said PM May.
The first day of the trip saw the pair take in a traditional tea ceremony in Kyoto, Japan’s former imperial capital. During a joint train trip to Tokyo on a Shinkansen (bullet train), May briefed Abe on the progress of Brexit. Discussions on Thursday will centre on May’s hope to kick-start post-Brexit trade by replicating existing or pending deals agreed by the EU, starting with Japan.
Prior to May's visit, Japanese officials said there would not be "substantial progress" on a trade deal until the UK's future relationship with the EU was clarified, dashing May's hopes Senior government minister Yasutoshi Nishimura suggested yesterday that Japan needed the British Prime Minister to ease a "sense of crisis" among businesses that are heavily invested in the UK.
Japan's direct investment in the UK is more than £71bn. This consists of more than 1,000 Japanese businesses and 140,000 staff. May will be travelling with Industry Secretary Liam Fox, 15 UK business executives and the director general of the Confederation of British Industry and Trade.