Chairman’s Comment on the Japan-United Kingdom Comprehensive Economic Partnership Agreement
Akio Toyoda, Chairman
Japan Automobile Manufacturers Association, Inc.
The Japan Automobile Manufacturers Association (JAMA) warmly welcomes the agreement in principle reached in the negotiations on the establishment of a comprehensive economic partnership agreement between Japan and the United Kingdom.
After a period of three months from the start of negotiations, agreement has been reached on a broad framework with a level of liberalization comparable to that of the Japan-European Union Economic Partnership Agreement (EPA). The agreement provides for the elimination of tariffs on motor vehicles and automotive parts imported to the United Kingdom as well as user-friendly rules of origin for the auto industry’s extensive supply chains, ensuring the predictability of the future business environment. We take this opportunity to express our respect and appreciation for the great efforts of the Japanese and British government officials concerned.
Expanding free trade is an extremely important issue for the Japanese automobile industry, which operates on a global scale. We expect that the implementation of this agreement immediately following the UK’s withdrawal from the EU will further strengthen the close and mutually beneficial trade, technology and investment relations which Japan and the UK have enjoyed for over 40 years.
Taking advantage of this agreement, the Japanese automobile industry intends to contribute to the development of even closer economic relations between Japan and the United Kingdom by providing a broader range of products that meet the specific needs of customers in the UK.