Hopes for ‘swift conclusion’ to economic partnership agreement

Theresa May has said Britain and Japan will work “quickly” to establish a new economic partnership after Brexit.

The Prime Minister said the two countries wanted to see a “swift conclusion of the ambitious EU-Japan economic partnership agreement”, and that the UK would be free to sign new bilateral trade agreements in any interim period after Brexit.

Japan’s Prime Minister Shinzo Abe said new investment by Japanese companies in the UK showed the “profound trust” the companies have in the British economy.

Japan’s corporate sector has raised concerns about the UK’s decision to sever ties with Brussels and the Government previously made clear it wanted the country to remain in the bloc.

Speaking at a press conference in Tokyo, Mrs May said: “Prime Minister Abe and I have agreed that as we exit the EU we will work quickly to establish a new economic partnership between Japan and the UK, based on the final terms of that agreement.”

Mr Abe said: “It is important for the world economy to realise Brexit from the EU which is smooth and successful.

“With this in mind, I have asked Prime Minister May for her continued consideration for ensuring transparency and predictability so as to minimise its impact on the business activities, including the Japanese companies.”

Liberal Democrat chief whip Alistair Carmichael criticised the announcement, saying Mrs May went to Japan seeking a new trade deal but instead had to admit the “biggest priority will be completing the one the EU is already negotiating”.

He said: “It’s a sign of the Prime Minister’s weakness that rather than going abroad to fight for British jobs, she’s been forced to desperately fight for her own.”