AIRLINK 60.34 Increased By ▲ 0.49 (0.82%)
BOP 6.33 Increased By ▲ 0.03 (0.48%)
CNERGY 4.46 Increased By ▲ 0.08 (1.83%)
DFML 16.05 Increased By ▲ 0.08 (0.5%)
DGKC 72.20 Increased By ▲ 0.50 (0.7%)
FCCL 18.57 Increased By ▲ 0.11 (0.6%)
FFBL 26.55 Increased By ▲ 0.25 (0.95%)
FFL 9.47 Increased By ▲ 0.27 (2.93%)
GGL 10.45 Increased By ▲ 0.13 (1.26%)
HBL 115.82 Increased By ▲ 1.32 (1.15%)
HUBC 113.62 Increased By ▲ 0.92 (0.82%)
HUMNL 6.80 Increased By ▲ 0.15 (2.26%)
KEL 4.94 Increased By ▲ 0.11 (2.28%)
KOSM 4.69 Increased By ▲ 0.01 (0.21%)
MLCF 39.18 Increased By ▲ 0.19 (0.49%)
OGDC 124.80 Increased By ▲ 1.40 (1.13%)
PAEL 22.29 Increased By ▲ 0.29 (1.32%)
PIAA 11.13 Increased By ▲ 0.13 (1.18%)
PIBTL 6.14 Increased By ▲ 0.12 (1.99%)
PPL 110.31 Increased By ▲ 1.91 (1.76%)
PRL 28.72 Increased By ▲ 0.52 (1.84%)
PTC 11.20 Increased By ▲ 0.13 (1.17%)
SEARL 52.60 Increased By ▲ 1.15 (2.24%)
SNGP 68.30 Increased By ▲ 0.30 (0.44%)
SSGC 11.67 Increased By ▲ 0.07 (0.6%)
TELE 8.24 Increased By ▲ 0.17 (2.11%)
TPLP 11.84 Increased By ▲ 0.14 (1.2%)
TRG 75.35 Decreased By ▼ -0.36 (-0.48%)
UNITY 23.57 Increased By ▲ 0.82 (3.6%)
WTL 1.30 Increased By ▲ 0.02 (1.56%)
BR100 6,640 Increased By 95 (1.45%)
BR30 22,611 Increased By 313.2 (1.4%)
KSE100 64,442 Increased By 738.9 (1.16%)
KSE30 21,803 Increased By 294.7 (1.37%)
Business & Finance

UK-Japan trade deal settled nerves for Japanese firms

  • We welcome very much the Japanese trade agreement which as a Japanese businesses was very welcomed.
  • On the point around confidence, that certainly amongst my peers in Japanese companies was very much welcomed, and probably settled a lot of nerves in terms of their trading prospects in the UK going forward.
Published February 23, 2021

LONDON: Britain's trade deal with Japan settled the nerves of a lot of Japanese businesses in the United Kingdom and gives them confidence about their future prospects there, a senior Honda executive said on Tuesday.

Japan, the world's third-largest economy, has since the 1980s made the United Kingdom its favoured European destination for investment, with the likes of Nissan, Toyota and Honda using the country as a launchpad into Europe.

But Britain's shock 2016 decision to leave the European Union had prompted Japan to express unusually strong public concerns. Their companies and investors warned that a disorderly exit from the EU would force them to rethink their four-decade bet on Britain.

"We welcome very much the Japanese trade agreement which as a Japanese businesses was very welcomed," Ian Howells, senior vice president at Honda Motor Europe, told a parliamentary committee.

"On the point around confidence, that certainly amongst my peers in Japanese companies was very much welcomed, and probably settled a lot of nerves in terms of their trading prospects in the UK going forward."

Britain and Japan formally signed a trade agreement in October, marking Britain's first big post-Brexit deal on trade. It has also made a formal request to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), of which Japan is also a member.

Comments

Comments are closed.