Thanks for the valuable contribution that reduces the hype to size. It will be very interesting to go through the agreement when publishing (if and when) and to think about important details such as access to pork quotas and other sensitive areas. I am pleased that this agreement offers an agreement equivalent to the EPA, with some additional advantages in the data and digital pages chapters. I hope this will give more confidence to Welsh companies exporting to Japan and encourage Welsh SMEs to see Japan as an export market for their products. On 23 October 2020, the British government published the text of the agreement.  Japan`s initial refusal to “disrupt” the EU-Japan Economic Partnership Agreement (EPA) is partly due to Japan`s desire for greater clarity on the UK`s future trade relationship with the EU and, on the other hand, the desire to negotiate something more ambitious by improving the UK`s market access commitments and re-examining some of the settlement issues rejected by the EU in the EPA negotiations between the EU.  Over time, however, Japan has repositioned itself to prioritize “continuity.” Pressure from the Japanese economy to ensure a smooth transition from the EU-Japan EPA framework to the Japan-UK free trade agreement from 1 January 2021 has come under severe pressure. The UK-Japan Economic Partnership Agreement協済 括 is a free trade agreement between the UNITED Kingdom 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. Unlike the United Kingdom, Japan has not had the same domestic political pressure to reach an agreement.
Japan already has 17 free trade agreements covering important trading partners, including the EU-Japan Economic Partnership Agreement and countries in the Asia-Pacific region (comprehensive and progressive agreement for the Trans-Pacific Partnership (CPTPP). In addition, Japan entered into the trade and trade agreement with the United States (which came into force in January 2020). Domestically, expectations are high for the conclusion of the Comprehensive Regional Economic Partnership (RCEP), of which China is a part.  With regard to the FREE trade agreement between the United Kingdom and Japan, Japan wanted to signal that it was a close strategic economic partner for the United Kingdom and to establish a solid basis for the development of its strategic trade relations and beyond, in order to pursue its foreign policy.  The legal text page also contains a justification (pdf).  “Long Road lies ahead for UK-US Trade talks,” Financial Times, 6 October 2020.  Morita-Jaeger, M. (2019). How does Brexit uncertainty disrupt UK-Japan trade relations?, The UKTPO blog, April 2019. blogs.sussex.ac.uk/uktpo/2019/04/30/how-is-brexit-uncertainty-disturbing-uk-japan-trade-relations/#more-3470 The Free Trade Agreement between Japan and the UK will be signed shortly, the UK`s first post-Brexit trade deal. Although the agreement is of some political importance, its economic impact is expected to be very small.
This is because it has only very limited improvements over the EU-Japan Economic Partnership Agreement (EPA). Although a thorough review is only possible when the text is made available to the public, one of the main flaws of the agreement appears to be the treatment of investments. As Morita-Jaeger (2020) explained, the UK has been a hub for Japanese companies in Europe since the 1980s and a gateway to the EU market for Japanese companies.