Morita-Jaeger, M. (2018). New economic partnership between the UK and Japan – Is an introduction to the EPA between the EU and Japan useful?. blogs.sussex.ac.uk/uktpo/2018/07/06/new-economic-partnership-between-the-uk-and-japan/ Many Japanese companies operating in the UK use delivered parts from continental Europe to build their products, which are then returned to those markets. For them to work smoothly after Brexit, the UK must also sign a trade deal with the EU. The free trade agreement between Japan and Britain will be signed shortly, the UK`s first post-Brexit trade deal. Although the agreement is of some political importance, its economic impact is expected to be very small. This is because it has only very limited improvements over the EU-Japan Economic Partnership Agreement (EPA). Although a thorough review is only possible when the text is made available to the public, one of the main flaws of the agreement appears to be the treatment of investments. Dr Minako Morita-Jaeger, “Given that Japanese direct investment (Foreign Direct Investment) has played an important role in the UK economy and that maintaining its existing post-Brexit investments is essential, the UK government should have shown a strong commitment to Japanese investment by including a comprehensive investment chapter, which includes investment protection and dispute resolution. The British opposition Labour Party estimates that it will increase the UK`s GDP by 0.07%, far less than the expected decline in trade with the 27-nation bloc. “In the past, it was said that an independent Britain was not in a position to conclude major trade agreements or that it would take years before it was concluded,” Truss said in a joint press announcement with Japanese Foreign Minister Toshimitsu Motegi. TOKYO — Japan`s parliament on Friday finalized the ratification of a free trade agreement with the United Kingdom, an important step in helping Japanese automakers, automakers and other industrial groups with the UK`s imminent exit from the European Union.
Value-added elements (compared to the EU-Japan EPA) are limited to a few well-defined improvements in the rules (for example. B e-commerce, rules of origin and financial services) and the UK`s immediate reduction of tariffs on certain products of the automotive and rail industry.  The last-minute agreement on UK-style cheese exports was concluded under the EU-Japan EPA, assigning the remaining EU quotas to British cheese exports.