The cabinet`s “most pessimistic” scenario, which predicts that up to 40% of trade with the EU could end British trade, signed the first major trade agreements after Brexit with Japan`s Trade Minister Liz Truss and Japanese Foreign Minister Motegi Toshimitsu signed the agreement on 23 October in Tokyo. They said the agreement would promote free trade and strengthen relations between their countries. Brexit uncertainty has left Japan`s economy in a downturn, with high tariffs and a threat to Japan`s trade relations with Europe The AGREEMENT between the UK and Japan on the Comprehensive Economic Partnership (CEPA) (Japanese 括協 済) is a free trade agreement between the UK and Japan.   The agreement was reached by both parties in September 2020 and signed in Tokyo in October 2020, after the UK left the European Union in January 2020. Mr. Kotsonis said that the agreement was important not only because of the trade it would allow directly, but because it would act as a “springboard” for the CPTPP. He said Japan was ready to support the UK`s efforts to join the bloc. Japanese Foreign Minister Toshimitsu Motegi said: “It is of the utmost importance that the supply chain between the UK and the European Union be maintained after the UK`s withdrawal from the EU… Japan has high hopes of quickly reaching an agreement on negotiations between the UK and the EU on their future partnership. The highly anticipated Comprehensive Economic Partnership Agreement between Japan and Britain (EPA) was officially signed on 23 October, the first after Brexit, signed by London as an independent nation, and in the midst of trade negotiations between the EU and Britain, a low morality and a resurgence of coronavirus cases across Europe. British Trade Minister Liz Truss made a special visit to Tokyo to sign the new agreement and called it a “pioneer,” although he criticised the fact that it covers only a small part of the UK`s economic interests and is more favourable to Tokyo. What should have been a pioneering agreement for international trade is an economy rather than a policy – for Britain, to show that it can negotiate its own agreements without the EU, and that Japan is giving some assurances to its businesses in Britain, while uncertainty continues to surround the Brext. But tariffs or no tariffs, a trade agreement is unlikely to lead to the growth of food and beverage exports overnight.
Cultural differences with Japan require understanding and adaptation, while for products such as cheese, it may be necessary to invest more in marketing and education. “Having access to the market is one thing. The market presence is very different,” said John Giles, president of the Chartered Chartered Institute of Marketing for food, drink and agriculture. Dominic Goudie, head of international trade at the SVE, says the rules of origin are due to the arrival of the government “a little more than we thought.” The agreement allows EU ingredients to be considered “British” in British manufactured products.