This archive report was first published on 9 June 2020.
On Tuesday, the UK and Japan will initiate talks on a post-Brexit trade deal, marking a significant step in Britain's efforts to establish new trade relationships with countries around the world.
As of 1 January 2021, the two countries will default to World Trade Organization trading terms if a new deal is not reached, resulting in tariffs and obstacles to commerce between the UK and its fourth-largest non-EU trading partner.
According to British government figures, trade between the two countries totalled £31.4bn last year, with 9,500 UK-based businesses exporting goods to Japan.
International Trade Secretary Liz Truss expressed her hopes for the negotiations, stating that the UK aims to strike a comprehensive free trade agreement that goes further than the deal previously agreed with the EU, setting ambitious standards in areas such as digital trade and services.
Ms Truss added that the deal will provide more opportunities for businesses and individuals across every region and nation of the UK, helping to boost economies following the unprecedented economic challenges posed by Coronavirus.
