Japan wants to hold informal free trade talks with Britain as it also works to sign a deal with the European Union, a report said Sunday. Tokyo’s moves aim to minimise Brexit’s impact on Japanese companies as Britain negotiates its exit from the EU, the…
Japan wants to hold informal free trade talks with Britain as it also works to sign a deal with the European Union, a report said Sunday.
Tokyo’s moves aim to minimise Brexit’s impact on Japanese companies as Britain negotiates its exit from the EU, the business daily Nikkei reported.
Prime Minister Shinzo Abe said he wants to reach a basic free trade agreement with the EU next month.
More than 1,000 Japanese companies operate in Britain, employing some 140,000 people in the country, while Japan’s direct investment in the UK has topped 10 trillion yen ($96 billion) to date.
Japanese officials have already warned businesses with European headquarters based in Britain that they may have to relocate to continental Europe after a final deal is signed between London and the EU.
Japan’s major automakers have so far backed the British economy, with Toyota announcing a £240 million investment in a car assembly plant while Nissan gave the green light to new investments at its plant in northeast England.
