UK announces first major post-Brexit trade deal with Japan. The UK has announced its first major post-Brexit trade pact by signing a deal with Japan. The UK-Japan Comprehensive Economic Partnership Agreement was agreed in principle by International Trade Secretary Liz Truss and Japan Foreign Minister Toshimitsu Motegi.
The deal aims to boost trade between these two countries by about Euro 15bn. The deal would boost UK GDP by 0.07%, though, it is just a fraction of the trade that was lost with the European union (EU).
The deal is an important step towards joining the Trans-Pacific Partnership. This would further place Britain at the centre of a network of free trade agreements.
Japanese investors in the UK including Nissan and Hitachi would be benefited from reduced tariffs on parts coming from Japan.
- Capital: London
- Currency: Pound Sterling
- Capital: Tokyo
- Currency: Japanese yen
1) Recently, India has signed Logistics agreement on “Reciprocal Provision Supplies and Services” with which country? – Japan
2) Recently, India, Australia held meeting on Supply Chain Resilience with which country? – Japan
3) PM Modi participated at the Global Vaccine Summit that was led by which country? – UK
4) Name the joint military exercise performed by India & UK. – Ajeya Warrior
5) UK to mint coin in remembrance of which Indian Leader? – Gandhi Ji
6) Indra Dhanush is a joint Air Force Exercise between India and which country? – UK
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