Signposting where government should focus its efforts to ensure the UK is optimising its trade relationship.
The CBI has responded to Secretary of State for the Department for International Trade, Liz Truss’ call for inputs on the UK’s future trading relationship with Japan. The inquiry examines where the UK should focus its energy when looking to build on the EU-Japan Economic Partnership Agreement, of which the UK is currently a beneficiary, following the EPA’s ratification this February.
Why is Japan important?
Japan is one of the UK’s largest inward investors. Nowhere is this more apparent than in the north east of England, where Japan is the second largest nation investor, behind the U.S., with investments made by Japanese car manufacturers positioning car marques as the largest private employers in the region.
UK exports to Japan are growing by around 8% year-on-year and Japanese investment into the UK is gradually diversifying away from the north east and into a wider range of sectors and areas. Japanese firms h
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