Blog: Japan Seeks Closure in Post-Brexit U.K. Trade Talks by End-July – Bloomberg

A family play a game of football beyond container ships on the dockside at the Port of Felixstowe in Harwich, U.K.

Photographer: Chris Ratcliffe/Bloomberg

Japan is aiming to conclude its current trade negotiations with the U.K. by the end of next month, according to a Japanese government official familiar with the talks.

While the time frame sounds very short for a trade negotiation, the two sides aren’t starting from scratch because they already have an economic partnership agreement, the official said.

U.K.’s Post-Brexit World

Boris Johnson views trade deals as a key prize of leaving the EU

Source: Bloomberg

Hiroshi Matsuura, Tokyo’s chief negotiator in the talks, earlier told the Financial Times that his nation was giving the U.K. six weeks to strike a post-Brexit trade deal so both sides needed to limit their ambitions.

Japan wants to close the deal early as it will need time to check each detail before it can be sent to parliament for approval, according to the government official. Japan’s parliament is expected to start an extra session this autumn.

U.K. and Japan Start Post-Brexit Talks to Replace EU Deal

Securing trade deals is a top priority for the U.K. as it emerges into a post-Brexit world. Without a new accord, the two countries will default to trading on World Trade Organization terms.

Japan is the U.K.’s fourth-largest non-EU trading partner. The U.K. was Japan’s 15th largest trading partner last year.

— With assistance by Yuko Takeo

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