UK trade with Japan hits record high

UK trade with Japan has reached record levels, with exports totalling £14.8 billion last year.

According to official figures, exports increased by 7.6 per cent on the previous year, with trade between the UK and non-EU countries also increasing.

There was a significant focus on UK products, with Scottish Whisky seeing exports to Japan increase by 20.9 per cent to £147.2 million, while salmon exports saw an increase of 71.8 per cent to £8.7 million.

The Department for International Trade (DIT) has stated that a future UK-Japan Free Trade Agreement could create more opportunities for British businesses to trade in the region while bringing benefits to households in Japan and the UK.

The UK has already agreed 20 post-Brexit continuity deals, covering 50 countries and territories, such as Switzerland, Central America, Morocco, Norway and Iceland.

Liz Truss, International Trade Secretary, said: “Japan is one our closest trading partners and it’s encouraging to see businesses already taking advantage of trading opportunities in one of the fastest-growing markets globally.

“Taking back control of our own trade policy will allow us to trade more with countries like Japan, creating greater opportunities and jobs throughout the whole of the UK.”

The DIT ran a campaign for businesses, interested groups and members of the public to highlight their priorities in any future agreement with Japan in September 2019, with the campaign running for six weeks.

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