The Uk-Japan Comprehensive Economic Partnership Agreement

The Ministry of Environment, Food and Rural Affairs (Defra) has partnered with IG producers to confirm whether they want their GI to be included in the agreement. Find out how additional geographic data is protected under the agreement. The agreement is essentially in line with the Economic Partnership Agreement reached in February 2019 between the European Union and Japan. [11] The government formally presented the text of the treaty to Parliament on October 23, 2020, but the deadline for review of the CRAG did not begin until November 2, 2020, when the House of Commons returned from the break. The first 21-day session is scheduled to end on December 8, 2020. The House of Commons will hold a general debate on the EPA on November 25, 2020. The House of Lords will hold a debate on the agreement on 26 November 2020. Unlike the EU, which has in the past refused to engage in discussions on audiovisual services for cultural reasons, Japan and the United Kingdom have agreed to launch cooperation in the field of audiovisual services under the agreement. This is a change for the UK creative sector, which has generally been less involved in trade discussions. The EPA between Japan and the UK goes well beyond the EU-Japan digital trade agreement.

Many of the provisions of the EPA are linked to those of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), of which Japan is a signatory and which the United Kingdom aspires to join. Among the additional commitments, this is the first trade agreement concluded by the United Kingdom as an independent trading nation. This UK agreement goes beyond the current EU agreement and brings great success to all parts of the UK in areas such as digital and data, financial services, food and drink, as well as creative industries. The agreement could boost trade between the UK and Japan by $15.7 billion and ultimately boost economic growth. The agreement appears, for two reasons, to create only limited economic value, which is in addition to “continuity.” Firstly, the free trade agreement between Japan and the United Kingdom alone cannot replicate the trilateral relationship between the EU and the United Kingdom, which existed when the UK was part of the EU internal market and the common trade policy, and when Japanese and British companies engaged in chains of global value and supply chains in Europe , were very dependent. Recalling that the main concerns of Japanese companies operating in Europe are regulatory changes, tariffs and an end to the free movement of people between the EU and the UK (following the UK`s exit from the customs union and the internal market), the end of the smooth functioning of trade between the EU and the UK is seriously damaging the economy , even if the EU and the UK successfully reach a free trade agreement.