On a mission to fortify the UK’s investment and trade connections with Japan, Ann-Marie Trevelyan, the International Trade Secretary, recently travelled to the Asian nation’s capital. The Tokyo trip included high level meetings involving Britain and Japan’s agreed commitment to more in-depth cooperation regarding clean energy transition, climate action and digital trade.
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Britain’s Indo-Pacific tilt is currently helping increase its trading and investment relationship with Japan. According to recorded figures from 2021’s third quarter, this mutually beneficial covenant is worth £24.6 billion. During the recent trip, Japan and the UK held the first joint ministerial committee of the Comprehensive Economic Partnership Agreement (CEPA), the Free Trade Agreement, which came into force at the end of 2020.
At the meeting, ministers from both nations discussed the most suitable way to build upon the CEPA’s firm foundations. As a result, representatives from both countries agreed to work closely together on both digitisation and digital trade and to further the climate goals and moves towards clean energy raised at last year’s COP26 in Glasgow.
Japan and the UK have a thriving trade and investment relationship, and both nations are set on it continuing to gain ground.
