Britain inks its first 'landmark' trade deal with Japan after Brexit

In its first major post Brexit agreement, UK, on October 23, inked a tre deal with Japan. deal which is being viewed as a replica of existing EU-Japan deal covers a variety of sectors including food, textiles and techlogy. Britain which exited EU in January this year would longer be able to avail benefits of existing deal beyond transition period.

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'Like-minded democracies' 

Meanwhile, British government has touted “landmark” UK-Japan Comprehensive Ecomic Partnership agreement as a chance to boost tre between two countries by whopping £15.2 billion and also a secure “major win” which was impossible earlier. Both Tokyo and London h agreed to deal in principle last month, however, it would still need ratification by Japanese Parliament to come into effect. Britain's International Tre Minister Liz Truss signed it physically while on a visit to Japanese Capital. 

“ deal is landmark moment for Britain that strengns ties with a like-minded democracy, key ally and major investor. It secures major wins that would be impossible as part of EU and brings toger two of world's most techlogically vanced nations," Trus said in a statement.

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deal comes following weeks of fraught talks between London and Brussels. Earlier this week, Britain refused to restart Brexit deal negotiations even after Conservative leer Michael Gove praised European Union for “constructive move”. EU’s chief negotiator Michel Barnier h earlier confirmed bloc’s availability to intensify talks on all subjects, and based on legal texts. Gove initially welcomed offer while speaking in House of Commons but Downing Street contricted his statement.

A Downing Street spokesperson reportedly said that discussion between Barnier and his UK counterpart, David Frost, was constructive. However, spokesperson went on to d that government continues to believe re is basis to resume talks unless re is a fundamental change of approach from EU, according to a report by Guardian. UK's transition period which started following its exit from EU ends in December this year. 

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