Japan PM offers UK Pacific partnership with “open arms”

Published: 08 October 2018

Japan PM offers UK Pacific partnership with “open arms”
Japanese PM: Shinzo Abe has stated that a Trans-Pacific partnership deal would be on the table with the UK following Brexit, the PM went on to say the country would be welcomed with “open arms”.

Mr Abe said during an interview that while the UK would no longer be a gateway to Europe following March, the country will maintain “global strength”, speaking with the Financial Times. He also expressed concerns of no agreement being met between the UK and EU, suggesting “wisdom” during the coming negotiations. 
Other nations involved in the Trans-Pacific Partnership (TPP) include: Canada, Australia and Malaysia. America was previously involved, until President Trump withdrew from the agreement.

Brexiteers have applauded his comments, agreeing with his statement that outside of the EU Britain would find trade deals such as TPP much easier to negotiate and be a part of. To join the partnership the UK would need to depart the EU customs union meaning tariffs and terms are set by UK officials directly rather than through Brussels.

"I hope that both sides can contribute their wisdom and at least avoid a so-called disorderly Brexit," he elaborated.

Mr Abe stated a transition period would be a requirement to avoid a negative impact to Japanese, and even worldwide businesses: "I truly hope that the negative impact of Brexit to the global economy, including Japanese businesses, will be minimised.” Some Japanese firms have already felt an impact, such as Panasonic who have planned to relocate their European branch from central London to Amsterdam.

UK and EU negotiations are expected to conclude by November, with both sides hopeful an agreement can be met that benefits both parties. Any outcome resulting in “no-deal” could have a significant impact on the economy.
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