The United Kingdom has signed a free trade agreement (FTA)  with Japan which UK says as the country's first major deal as an independent trading nation. The UK government has said, "The UK has officially signed an economic partnership agreement with Japan marking an historic moment, as the UK's first deal as an independent trading nation and offering a glimpse of Global Britain's potential". UK said the Comprehensive Economic Agreement  between UK and Japan "goes beyond the existing EU agreement".

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As per the data from 2018, Japan is the UK's 11th largest export market with the value of trade between the two countries reaching £29 billion (€32 billion). United Kingdom expects the amount to reach £15.2 billion (€16.8 billion) through this FTA. 28% of the Britain's export to Japan is hold by the financial services, this is the biggest contributing sector. Through the Free trade Agreement English sparkling wine, made-in-Britain coats and shoes, Stilton cheese, as well as pork and biscuits from Britain, will become cheaper in Japan. The free trade agreement also helps in easy operation of the Brithish companies in Japan. The agreement is waiting for the parliamentary approval in both the countries. 

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As per the Japanese Foreign Ministry,  Japan already exports about 1.5 trillion yen (€12 billion) of goods to Britain,majority of autos, auto parts and other machinery, while importing nearly 1 trillion yen (€8.1 billion) of goods from Britain, including pharmaceuticals, medical products and cars. The agreement was signed between British International Trade Secretary Liz Truss and Japanese Foreign Minister Toshimitsu Motegi in Tokyo, Friday on October 23, 2020.

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