The British Government writes that it has secured a free trade agreement with Japan, the UK’s first major trade deal, which will increase trade with Japan by an estimated GBP 15.2 billion.
UK businesses will benefit from tariff-free trade on 99 per-cent of exports to Japan. The UK-Japan Comprehensive Economic Partnership Agreement was agreed in principle by International Trade Secretary Liz Truss and Japan’s Foreign Minister Motegi Toshimitsu on Friday.
“This is a historic moment for the UK and Japan as our first major post-Brexit trade deal,” Liz Truss, U.K. international trade secretary,” said Truss in a statement.
“We have negotiated a deal that sees tariffs fall on pork, beef, salmon and a range of other agricultural exports,” she added.
Last year, Scotland exported around 760 tonnes of fresh salmon to Japan.
James Park, Head of Insights for the Scottish Salmon Producers Organisation (SSPO) told SalmonBusiness:
“We welcome the announcement today of the UK-Japan trade agreement which will help further develop the relationship between the Scottish salmon sector and Japanese consumers. Japan is the fourth largest export market for Scottish salmon worth over £9 million annually and this agreement confirms that Scottish salmon producers will continue to be able to supply the Japanese market without restrictive tariffs.
“Supplying such a valuable market where consumers demand the highest quality for their seafood is important to us. Maintaining low- or no-tariff access for our main products to key markets globally is a priority for the Scottish salmon sector.”