Britain to enter into a bilateral trade agreement with Japan following Brexit

With reduced access to the EU’s single bloc economy, British Prime Minister Theresa May wants to assure her peers and British businesses that she can live up to their aspirations, deliver Brexit, and still manage the economy.

As per a British government source familiar with the matter at hand, “pretty much immediately” after the end of Brexit negotiations, Britain and Japan are likely to enter into a bilateral trade agreement.

The move is aimed at reassuring British businesses and politicians that the British government is ramping up its efforts to ensure the well-being of the economy.

The potential deal was disclosed by British Prime Minister Theresa May during a visit to Tokyo.

“Our intention would be for our deal to come into force pretty much immediately,” said a government. “That’s the UK position and they’ve (Japan) agreed to it.”

As per the source, May had met Takeshi Uchiyamada, Toyota’s Chairman, as well as Hiroto Saikawa, Hiroaki Nakanishi, Nissan’s CEO and Hitachi Chairman, respectively, during her recent trip.

The meetings were “enthusiastic and positive”, said the source.

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