Published 2 April 2018
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By: Media Source
Brexit: Japan says trade deal with EU is a greater priority than deal with UK
Japan is more focused on a securing major trade deal with the European Union than pursuing an agreement with a post-Brexit Britain, a senior minister has said.
Shinichi Iida, minister for public diplomacy and media, said his country’s “first and foremost priority” was rubber-stamping its historic trade agreement with Brussels – the largest the EU has ever signed – before work could begin on establishing lucrative free trade deals with the UK.
As one of the UK’s major investors, Japan has been outspoken in its concerns over Brexit, with its ambassador warning Theresa May earlier this year that its firms could leave Britain if a chaotic exit makes it “unprofitable” for them to remain.
Japan warns May its firms will quit UK if Brexit ‘unprofitable’
Car giants Nissan, Honda, Toyota and Mitsubishi are among more than 1,000 Japanese firms operating in Britain, employing 160,000 workers in areas such as Sunderland.
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In an interview with The Independent, Mr Iida said Japanese businesses were “concerned” about Britain’s plans to leave the bloc, after setting up shop in Britain partly to secure access to the European single market.
He said his country would prefer if the UK remained in the single market – something the prime minister has ruled out – and suggested that the Government’s position could change as the EU are “tough negotiators”.
Offering a boost to the prime minister, Mr Iida said his government welcomed her “consistency” but warned that Japan would be watching closely as it has a “big stake in the Brexit process”.
Speaking at the Japanese embassy in London, he said: “Frankly, our first and foremost priority at the moment is the early effectuation of the Japan-EU economic partnership agreement.
“Having said that though, once the Japan-EU economic partnership agreement comes into force, it could provide a very good and sound basis for the future trade between Japan and UK.”
