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Japan and the EU want clarity from UK on trade deal

Last Saturday the UK Prime Minister Theresa May attended the Munich Security Conference (MSC) where she spoke with MSC Chairman Wolfgang Ischinger on the topic of Brexit and the UK’s future involvement with the EU. The motto for this year’s Munich Security Conference was "To the Brink – and Back?"

Although the motto is clearly aimed at the whole of Europe, one could be forgiven for optimistically thinking it was specific to the UK and a possible Brexit reverse. But then there's the question mark. Unfortunately, it is not a typo. The motto is a question, and with regards to Brexit, it’s a question that Theresa May has answered. Theresa May speaking at the Munich Security Conference.

 

"There is no question of a second referendum or going back and I think that's important." UK Prime Minister Theresa May has officially ruled out a second referendum. 


When asked whether or not Britain would consider a second referendum the UK Prime Minister responded: "People in the UK feel very strongly that if we take a decision, then governments should not turn around and say no you got that wrong."

Free Trade Agreement:

Michel Barnier says that the EU is open to a partnership with the UK regarding security and defence, however, the EU wants clarity on a trade agreement from the UK.

 

Japanese on Brexit:


The Japanese Ambassador to the UK, Koji Tsuruoka has said that Japanese businesses originally set up in the UK due to the fact that the UK “was going into Europe.” He stated that the Japanese companies expect continued access to the European Union market after Brexit. Tsuruoka was speaking after attending a meeting with the UK Prime Minister Theresa May and a number of Japanese business leaders.

According to Japanese government figures, approximately 142,000 people are employed by 879 Japanese companies in the UK. Just like the EU, the Japanese are seeking clarity on the issue of trade. Tsuruoka said, "the question is whether the arrangements that will be reached between the two sides will allow the Japanese companies, who are willing and, in some ways, determined to continue to operate in the UK, to allow them to make that happen."

Clarity from the UK

For now, it looks as if the UK government is divided on the issue of how close a relationship they want with the EU. Theresa May's Cabinet is split between those who would rather remain close to single market and customs union and those who want a clean break so Britain can strike new trade deals around the world.

The only real clarity from the UK Prime Minister is that the UK will not have a second referendum. "There is no question of a second referendum or going back and I think that's important." - UK Prime Minister Theresa May "People in the UK feel very strongly that if we take a decision, then governments should not turn around and say no you got that wrong."  - UK Prime Minister Theresa May

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