Sri Lanka’s apex investment promotion body, Board of Investment (BOI), is eyeing five new trade agreements with key trading partners—Japan, China, European Union (EU), United States and United Kingdom (UK)— over the next three years.
A written submission from Japan published by the ECT secretariat rejected language on the “right to regulate” and changes to the investor-state dispute resolution mechanism.
The UK sees this deal forming a pathway to further market access under the 11-nation Comprehensive and Progressive Agreement for Transpacific Partnership (CPTPP), which Japan will support as part of the agreement.
The UK will hold multiple rounds of talks with the 11 member states of the Trans-Pacific Partnership with an eye on joining the trade pact, its trade minister said.
Japan and Britain agreed in principle on a post-Brexit free trade deal after three months of talks, ensuring the continuity of close business relations following the end of London’s transition period for exiting the EU.
The big reshoring question is still about how much foreign investment will shift from China due to a combination of rising production costs and more fractious diplomatic relationships.
Foreign Minister Toshimitsu Mogi from Japan confirmed that they will continue to cooperate towards the signing of the East Asian Regional Comprehensive Economic Partnership (RCEP) within the year.
The Japanese government is blocking reform of a treaty that allows energy companies to sue nation states when climate policies affect their profits.
Japan wants to reach broad consensus with the United Kingdom on trade this week, a Japanese government official said, signalling Tokyo’s desire to make progress on the bilateral trade deal before a change in government.
In the context of warming ties between China and Japan, the two countries should launch negotiations on an upgraded bilateral investment agreement as soon as possible, as well as start negotiations for a China-Japan free trade agreement.
The Japanese and British governments stopped short of reaching a broad accord on a new bilateral trade deal, citing the need for further negotiations on how to handle Japanese tariffs on British blue cheese.
Imports of blue cheese from the UK will be guaranteed a tariff at the same level stipulated in the EU-Japan agreement if the total import amount at the end of the year is below an agreed-to level.
Britain is still aiming to strike a post-Brexit trade deal with Japan by the end of the month despite Trade Secretary Liz Truss insisting on preferential treatment for Stilton makers in any deal.
Britain will phase out tariffs on Japanese auto imports by 2026 but the countries are still negotiating what to do with levies on cheese under a post-Brexit free trade deal.
Consensus crumbles after UK’s international trade secretary reportedly sought to make the cheese a part of negotiations.
The UK’S trade negotiators are rushing into post-Brexit trade deals that could decimate superior British standards in a bid to be more competitive the Institute for Government warned.
Japan and the UK were on the same page on most subjects covered by their proposed free trade pact and are aiming to reach an agreement by the end of the month.
The Japanese Foreign Minister is set to start two days of post-Brexit trade negotiations in the UK, to round up a new bilateral trade agreement.
Japanese Foreign Minister Toshimitsu Motegi will visit Britain this week for what he said will be difficult talks with British Trade Minister Liz Truss, with the hope of finding middle ground and concluding a post-Brexit trade deal.
There are those in Japan who insist that the RCEP agreement must be signed even without Indian participation. The signing is scheduled for November in Hanoi.