UK-Japan trade deal ‘meaningless’ without travel

A travel management company has called the announcement today of a new trade agreement between the United Kingdom and Japan as “meaningless” in an environment where business travel is highly restricted by Covid.

The UK-Japan Comprehensive Economic Partnership Agreement (CEPA) announced today in Tokyo by Britain’s international trade secretary  Liz Truss and Japan’s foreign minister  Motegi  Toshimitsu  is the first deal that the UK has struck as an independent trading nation, following its departure from the European Union at the beginning of the year.

The government says the agreement will boost trade between the nations by more than £15 billion. 

The agreement also includes a commitment from Japan to support UK joining the Trans-Pacific Partnership, one of the world’s biggest free trade areas, covering 13 per cent of the global economy and more than £110 billion of trade in 2019. 

Truss said: ”Today is a landmark moment for Britain. It shows what we can do as an independent trading nation, as we secure modern and bespoke provisions in areas like tech and services that are critical to the future of our country and the reshaping of our economy.

”Trade is a powerful way to deliver the things people really care about. At its heart, this deal is about creating opportunity and prosperity for all parts of our United Kingdom and driving the economic growth we need to overcome the challenges of coronavirus.”

Martin Ferguson, American Express GBT’s vice president of public affairs, said: “The UK-Japan trade deal is a very positive development for the business community. But trade needs travel. The deal is meaningless without it. Japan is easing entry restrictions to help boost its economy, which is encouraging. The UK government needs to follow suit." 

He added, “A no-deal Brexit is also a very real possibility, so we need urgent action to implement the infrastructure needed for a safe return to travel and trade. A 14-day self-policed quarantine period, which does little to mitigate risk, is simply not fit for purpose for business travellers.”