Uk food and beverage producers are pleased that the UK has reached a new comprehensive trade agreement with Japan. As the world`s largest net importer of food and beverage products, this agreement with Japan improves our existing terms of trade and offers significant new growth prospects for high-quality UK production. In particular, we welcome the additional flexibility that this agreement offers with regard to the rules of origin that are so important to our industry. The new agreement has been widely welcomed by Japanese companies, although doubts remain about a free trade agreement between the UK and the EU by the end of the transition period. Historically, many Japanese companies have developed in Europe using the UK as a base and, without such an agreement, European companies owned by Japan would be disrupted. Duty-free access for more British products – new and more liberal rules of origin will allow manufacturers of coats, knitwear and biscuits to buy inputs from around the world to export to Japan – allowing them to sell more easily and cheaper in the Japanese market. [3] The British government press release of 11 September 2020. www.gov.uk/government/news/uk-and-japan-agree-historic-free-trade-agreement The FREE trade agreement between the UK and Japan is an internal political asset for the British government. The UK is still cramped with regard to future relations between the EU and the UK, and the possibility of a non-agreement has increased in recent days. The free trade agreement with the United States, which originally emerged as a key part of the post-Brexit agenda, seems distant. This is partly due to the uncertainty associated with the US presidential election, but also to differences of opinion in key areas such as food safety standards for U.S.

agricultural products. [1] Under these conditions, the United Kingdom has been under political pressure to demonstrate its ability to conclude its first free trade agreement as an “independent” nation. For this reason, the trade agreement with Japan, the world`s third largest economy and the UK`s fourth largest export market,[2] is considered a “historic free trade agreement” for the United Kingdom. [3] UK Finance promotes regulatory coordination and supervisory cooperation as a turnkey means of improving the usefulness of our members` UK activities in their business activities in other markets. We also support another useful feature of the Japan uk agreement; prohibiting the requirement to impose local storage of business data (subject to limited exemptions for appropriate public purposes) and measures allowing the free movement of such data (in this case between Japan and the United Kingdom). Data mobility promotes the efficient operation of banking and payment companies operating in several jurisdictions without compromising the privacy and security of sensitive personal or business information. We welcome the news that an agreement has been reached today between the United Kingdom and Japan. Japan remains one of Walkers` most important markets, where sales have grown steadily since its first launch in Japan more than 40 years ago. As Morita-Jaeger (2020) explained, the UK has been a hub for Japanese companies in Europe since the 1980s and a gateway to the EU market for Japanese companies. Recalling that the main concerns of Japanese investors are regulatory changes and an end to the free movement of people between the EU and the UK[12], the end of the smooth running of trade between the EU and the UK, even in the case of a free trade agreement between the EU and the UK, will inevitably have an impact on Japanese investment in the UK.

Given the economic shock of Covid-19 on the UK economy (-10.1% real GDP growth expected in 2020 (OECD)[13], FDI will be an important source of medium- and long-term economic recovery in the United Kingdom. In this context, it can be read that Japan

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