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The excellent union with the third largest economy in the world is the first since the UK left the European Union in January. The Secretary of International Trade, Liz Truss, will sign the agreement in Tokyo with the Minister of Foreign Affairs of Japan, Motegi Toshimitsu.
Other deals with the US, Australia, New Zealand and Canada are in the works in the coming months that will help create tens of thousands of new jobs.
Negotiations on a post-Brexit trade relationship with the EU are also continuing.
Praising the agreement with Japan, Ms Truss said: “Today is a historic moment for Britain.
“It shows what we can do as an independent business nation as we ensure modern and personalized arrangements in areas such as technology and services that are critical to the future of our country and the reshaping of our economy.
“Trade is a powerful way of delivering the things that people really care about.
“At its core, this deal is about creating opportunity and prosperity for all parts of our UK and boosting the economic growth we need to overcome the challenges of the coronavirus.”
Truss also hailed the deal with Japan as an important step for the UK to join a broader 11-nation trade deal, known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Once fully operational, it will account for around 13% of global GDP and will be worth more than £ 110 billion.
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Tokyo has also guaranteed market access for UK malt exports with a more generous quota than the EU, as well as tariff reductions for UK pork, beef and salmon exports.
Japanese and British companies will also be able to move employees and their dependents to each country more easily under the terms of the agreement.
Dame Carolyn Fairbairn, Managing Director of CBI, said: “The signing of the UK’s first independent trade agreement is a milestone for our economy and will be welcomed by businesses in many sectors.
“This agreement has the potential to support jobs across the country by increasing British agricultural exports and supporting our manufacturing and service sectors.
“Consumers will also benefit from a greater variety of options.
“Ultimately, trade is a powerful lever for economic growth.
“The CBI and its members will now work with the government to make the most of the opportunities and ensure that the benefits are felt throughout the UK.”
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