Chairman Kobayashi’s Comments on the Japan-UK
Comprehensive Economic Partnership Agreement Taking Effect

January 1, 2021

I welcome the coming into effect of the Japan-UK Comprehensive Economic Partnership Agreement (Japan-UK EPA) today. I would like to reiterate my appreciation for the efforts of all those in the Japanese and UK governments and legislatures who were involved in successfully concluding the negotiations within an extremely short timeframe and bringing the agreement into effect as quickly as possible.

The Japan-UK EPA will ensure the continuity of Japanese companies’ UK operations and contribute to further expansion of trade and investment and economic prosperity for both our countries. Amid a rise in protectionism spurred by the coronavirus pandemic, this agreement also sends a powerful message to the world that Japan is committed to promoting free trade.

I hope that the Japanese government will continue its efforts to expand free trade, including displaying leadership as the 2021 chair of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and supporting UK membership of the CPTPP.

Given that Japan, the UK, and the EU have built closely interlinked supply chains, I also welcome the agreement reached on free trade between the UK and the EU, which has taken provisional effect.