Japan would welcome UK to Pacific Trade Deal

Prime Minister Shinzo Abe has said Japan would welcome the UK "with open arms" if it applied after Brexit to join the Trans-Pacific Partnership (TPP) free trade pact.

Japan would welcome UK to Pacific Trade Deal
In an interview with the Financial Times, Japan's Prime Minister, Shinzo Abe said that while Britain would lose its role as a gateway to Europe after Brexit, it would still be “equipped with global strength” and his country would welcome the UK if it applied to join the Trans-Pacific Partnership (TPP).The TPP free trade deal has been agreed by 11 nations – Japan, Singapore and Mexico, who have already ratified the agreement, plus Australia, Brunei, Canada, Chile, Malaysia, New Zealand, Peru and Vietnam, who have signed up but have not yet ratified it.
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Originally, the United States were part of the agreement but one of President Donald Trump's act after assuming power last year was to pull out of the deal, describing it as “a potential disaster for our country”.

A bright future outside of the EU?

Although Mr Abe originally said the TPP would be "meaningless" without the US, his enthusiasm for the pact has subsequently increased substantially and his warm welcome for the UK's participation was being seen as a boost for Brexiteers who argue the UK could have a bright economic future outside the EU.

Concerns over UK qualifying to join the TPP

However, Mr Abe told the FT that he wanted to see a constructive agreement reached in the Brexit talks. "I hope that both sides can contribute their wisdom and at least avoid a so-called disorderly Brexit," he said."I truly hope that the negative impact of Brexit to the global economy, including Japanese businesses, will be minimised."As the winter edition of Relocate Magazine reports in its feature on the prospects of future trade deals for the UK, concerns have been raised that Britain will not qualify to join the TPP if it adopts a post-Brexit 'common rule book' with the EU covering human, animal and plant health.
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Additionally, Mr Abe's welcome to Britain's involvement in the TPP comes after Koji Tsuruoka, Japan’s ambassador to the UK, painted a depressing picture of Japanese involvement in the British economy if the Brexit deal put profits at risk.“If there is no profitability of continuing operation in the UK – not Japanese only – no private company can continue operation. It’s as simple as that,” he told ministers at a meeting in London.For related news and features, visit our Brexit section.Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Global Mobility Toolkit download factsheets resource centreAccess hundreds of global services and suppliers in our Online DirectoryClick to get to the Relocate Global Online Directory

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