Japan to support the United Kingdom joining the Trans-Pacific Partnership
Kanako Mita and Lee Jay Walker
Modern Tokyo Times
Recently the United Kingdom (UK) and Japan, in principle, signed an important trade deal. Of course, for the UK, this comes at an opportune time because of ongoing issues with the European Union (EU).
It is widely believed that the real goal for the UK is joining the Trans-Pacific Partnership (TPP). Hence, with Japan appearing to support the UK joining the TPP, it seems that the long-term goal will be met.
Japan’s concern about the UK leaving the EU relates to continuity and not hindering the supply chain. Thus it appears that the first signed agreement relates to this issue and now the next state relating to the TPP is being discussed.
Liz Truss, the International Trade Secretary, said in September, “Strategically, the deal is an important step towards joining the Trans-Pacific Partnership and placing Britain at the center of a network of modern free trade agreements with like-minded friends and allies.”
In another article by Modern Tokyo Times, it was stated, “Once this trade bloc moves forward then the membership of the UK will be welcomed. If so, and with the UK joining the Trans-Pacific Partnership in the future, this bloc will account for approximately 16% of all global GDP. Therefore, if the final goal of the UK is achieved, this will be a bloc of roughly 575 million consumers.”
According to reports, the Minister of Economic Revitalization (Minister in charge of Social Security Reform and TPP), Yasutoshi Nishimura, will meet Truss in the immediate future. Hence, the meeting between Nishimura and Truss will focus on the UK joining the TPP and how Japan can help with this matter.
Reuters states, “The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement that links Canada and 10 other countries: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.”
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