Japan, Britain Launch Trade Talks, Aiming for Year-End Deal

Tokyo, June 9 (Jiji Press)--The Japanese and British governments Tuesday held the first round of minister-level talks on a proposed new trade agreement, aiming to strike the deal by year-end. The teleconference was attended by Foreign Minister Toshimitsu Motegi and British International Trade Secretary Liz Truss. In February last year, an economic partnership agreement for free trade went into force between Japan and the European Union. But preferential tariff treatment between Japan and Britain is set to expire at the end of this year following the British exit from the EU. Tokyo and London are hoping to effectuate a new trade pact based on the Japan-EU EPA without creating a break in the preferential treatment. Under the EPA, the EU will eliminate its tariffs on Japanese automobiles in the eighth year from the effectuation. "We want to move up the tariff removal schedules mainly for automobiles and auto parts as much as possible," trade minister Hiroshi Kajiyama told a news conference before the minister-level talks. Britain is showing interest in the Trans-Pacific Partnership free trade agreement among Japan and 10 other nations. Tuesday's talks may eventually lead to Britain's participation in the TPP. END