October 8, 2018


UK would be welcomed to TPP 'with open arms', says Shinzo Abe: Japanese prime minister talks Brexit, Trump, trade and North Korea in FT interview (Lionel Barber and Robin Harding, 10/08/18, Financial Times)

Japan would welcome Britain to the Trans-Pacific Partnership trade deal "with open arms", said Prime Minister Shinzo Abe, as he urged a compromise to avoid a no-deal Brexit.

Speaking in an interview with the Financial Times at his official residence in Tokyo, Mr Abe said the UK would lose its role as a gateway to Europe after Brexit, but would still be a country "equipped with global strength".

His remarks will encourage Brexit supporters in the UK who see new opportunities for free trade outside the EU while turning up the pressure on Brussels and London to strike a timely exit deal.

The TPP is a wide-ranging trade agreement between 11 Pacific countries, including Japan, Vietnam, Malaysia, Canada, Mexico and Australia. It originally included the US but one of Donald Trump's first acts as president was to withdraw from the pact.

Joining would be a way for Britain to strike new free-trade deals with a large and fast-growing chunk of the world economy. However, it would only be possible if the UK was to leave the EU customs union and gain the power to set its own tariffs.

Posted by at October 8, 2018 4:13 AM