Japanese Free Trade Agreement

After the signing, the final text of the treaty will be submitted to Parliament for 21 days of session for consideration under the Constitutional Reform and Governance Act (CRaG). The Government will also publish a full report on the agreement in which it will explain the EPA, including significant differences or improvements between the EPA between the UK and Japan and the EU-Japan agreement. I hope that this agreement can lay the groundwork for all future agreements that the United Kingdom will establish with the rest of the world. The most modern numerical provisions and data go far beyond the EU-Japan agreement. These will allow the free flow of data while maintaining high standards of protection for personal data. We are also committed to respecting the principles of net neutrality and introducing a ban on geolocation of data, which will prevent UK companies from bearing the additional costs of setting up servers in Japan. This will help UK fintech companies operating in Japan – such as Revolut and Transferwise – innovate and grow. The United States and Japan have concluded a trade agreement on market access for certain agricultural and industrial products, with plans to continue negotiations for an expanded free trade agreement. On October 17, 2019, the United States and Japan agreed on market access for certain agricultural and industrial products.

Japan`s legislature approved the agreement on December 5, 2019. President 9974`s proclamation was issued on December 26, 2019, with the effective date of January 1, 2020. On 30 December 2019, the Communication of the Federal Register (84 FR 72187) on the implementation of the agreement was published. At the end of the day, trade is a powerful lever for economic growth. The CBI and its members will now work with the government to take full advantage of the opportunities and ensure that the benefits are felt in all parts of the UK. A free trade agreement with both would be a very difficult task, given issues such as the management of agricultural, forestry and maritime products. A free trade agreement between Japan and the United States would have a significant trade transformation effect.