Liam Fox

Liam Fox showcases best of British business in Japan

On a trade visit to Japan, Liam Fox has welcomed over £519m worth of commercial deals secured by UK companies, creating 186 new jobs in the UK.

The deals included a £500m export and investment package by Aston Martin.

Over 200 CEOs from British and Japanese companies, the DIT (Department for International Trade) and JETRO (Japan External Trade Organisation) signed a memorandum of cooperation outlining practical ways of support to help UK and Japanese businesses.

A memorandum of cooperation was also signed with the Japan Bank for International Cooperation to support energy infrastructure investment from Japan into the UK.

The international trade secretary met with Hiroshige Seko, the Japanese minister of economy, trade and industry, to discuss a new trade and investment working group, and an agreement that the EU-Japan Economic Partnership Agreement will form the basis of future UK-Japan bilateral trade.

Mr Fox was accompanied by a business delegation featuring members from the financial services, life sciences, defence and cyber industries.

On the final day of his visit to Japan, the international trade secretary praised British businesses and hailed the opportunities to engage with Japanese investors and encourage investment into the UK.

He said: “As an international economic department, it’s important that we’re building upon our already strong trade relationships with global partners like Japan as we leave the EU, and it is our intention that we will lay the ground for an ambitious trade deal based on the EU-Japan agreement.

“The UK is world-renowned for our innovation and expertise across a range of sectors, including financial services and life sciences, and we must seize the many commercial opportunities and partnerships ahead of us.

“Leading the UK business delegation to engage with Japanese buyers and investors is a key part of showcasing what the UK offers the world now and as we leave the EU, and every penny of investment secured boosts local economies and creates new jobs back in the UK.”

It was also announced that London-based fintech cryptocurrency firm WIREX, will open a new Asian headquarters in Tokyo that will create 30 new jobs in the UK.

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