politics

UK foreign minister to visit Australia, Japan in post-Brexit trade drive

19 Comments

Britain's foreign minister will visit Australia, Japan, Singapore and Malaysia over the next few days as part of efforts to secure free trade deals now that the country has left the European Union.

Dominic Raab will hold meetings with his counterpart and business executives in Australia on Thursday and Friday before heading to Japan on Saturday and ending his trip in Singapore and Malaysia, the Foreign Office said.

Britain formally left the European Union on Jan 31 and the government will spend the year negotiating its future relationship with Brussels and trying to strike agreements with major economies such as the United States and Japan.

"Now is the time to put Global Britain into action," said Raab. "The Asia-Pacific region is full of opportunities and our message is that the UK is open for business and a great place to invest."

Japanese firms are already big investors in Britain with manufacturers encouraged by Prime Minister Margaret Thatcher's Conservative government in the 1980s to use the country as a gateway into the rest of the EU.

Many are now concerned about possible trade friction between Britain and the continent after a transition period finishes at the end of December and Tokyo could seek the elimination of tariffs on exported goods as part of a deal with London.

© (c) Copyright Thomson Reuters 2020.

©2020 GPlusMedia Inc.

19 Comments
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Nissan looks to gain massively as Audi BMW’s and vw, become significantly more expensive due to tariffs or border friction.

there is a massive amount of substitution in a 90bn trade deficit

-6 ( +0 / -6 )

So leave an agreement with your Euro neighbours across a short stretch of ocean.

Leave access to 450 million customers and the worlds largest free trading bloc .

Why ? Because you didn't want so many "Johnny Foreigners " in London ?

Now, go down to the southern hemisphere, tens of thousands of kilometres away, to do a deal with Australia.

Makes perfect sense.

2 ( +8 / -6 )

Why ? Because you didn't want so many "Johnny Foreigners " in London ?

Now, go down to the southern hemisphere, tens of thousands of kilometres away, to do a deal with Australia.

Many Australians are from English stock so it does make perfect sense if your discussing foreigners.

There is much of Australia sympathetic to getting a free trade agreement with the old "motherland". We dont mind helping out the Britts as long as it is win win.

6 ( +7 / -1 )

Nissan looks to gain massively as Audi BMW’s and vw, become significantly more expensive due to tariffs or border friction.

But 80% of Nissan's UK production is currently exported to EU countries. It's hard to see how they can gain.

8 ( +8 / -0 )

The begging has already begun, it seems

1 ( +5 / -4 )

JP big investors ... hear hear.

-3 ( +0 / -3 )

The UK advantages the EC to the extent that there’ll be business delegations knocking on UK doors to secure deals- the UK has the upper hand!

-1 ( +4 / -5 )

"The UK advantages the EC to the extent that there’ll be business delegations knocking on UK doors to secure deals- the UK has the upper hand!"

You come across like a Brexiteer; you've won.

Or at least they're telling you so.

However, don't let the reality of the UK's economic power obfuscate reality.

UK GDP: $2.744 trillion - just about yet not quite half Japan's GDP

Population: 66.44 million

Exports to the EU: 45% of GDP

Major exports: Services & Finance - totally dependent on Passport rights, i.e. EU's.

EU GDP: $16. trillion

Population: almost half a billion

Exports to the UK: 8% of GDP.

Now, be rational and think. Then be honest.

When the trade blows begin, who do you honestly think is going to win?

"Does the EU need us more than we need them?"

https://www.bbc.co.uk/news/business-46612362

0 ( +5 / -5 )

Many Australians are from English stock so it does make perfect sense if your discussing foreigners.

There is much of Australia sympathetic to getting a free trade agreement with the old "motherland". We dont mind helping out the Britts as long as it is win win.

Either you aren't Australian or you are from a much older generation. The majority of Australians of British descent are now, at a minimum 3 generations removed and have no loyalty, feeling of close ties or desire to prop up Britain's economy as the UK's Plan B.

1 ( +4 / -3 )

No one except failed PM Tony Abbott talks about England as a "motherland "

Most English migrated under the 10 pound Pom scheme , subsidized immigration during Australia's "White Australia Immigration Policy ".

Not a happy time in our history.

Immigration from non white nations have added much more to Australia than the motherland .

-2 ( +3 / -5 )

Either you aren't Australian or you are from a much older generation. The majority of Australians of British descent are now, at a minimum 3 generations removed and have no loyalty, feeling of close ties or desire to prop up Britain's economy as the UK's Plan B.

I am Australian and 3rd or 4th generation but I have done a DNA test and I have a large percentage of English in me so I have a soft spot for England and Northern Western Europe. I served in the army and as all service people in this country must, I gave an oath to serve the Queen and her successors. That was many years ago but Australians do not forget their ancestry no matter where on the planet they come from. A high percentage come from the UK.

0 ( +2 / -2 )

Swearing an oath to the Queen when you are Australian has to be the best reason to become a Republic .

You can go to the recent census to find out what percentage of Australian people "come from the UK "

Most recent immigrants come from India, China, , Phillipines [ABC News "Asian immigrants account for 56% of Australia's intake in 2016/17 }

India toped the list, followed by China...UK coming in third but in numbers way behind.

I'm amused by the idea that Australia go out of its way to accommodate the economic needs of the UK, when typically the English/Australians calling for this are the loudest saying "migrants should assimilate to Australia ".

Sorry mate...the days of "merry old England " are not closely nor fondly remembered by most Australians.

-2 ( +0 / -2 )

Nissan looks to gain massively as Audi BMW’s and vw, become significantly more expensive due to tariffs or border friction.

No worries, as soon as the UK signs a new trade deal with the U.S., GM and Ford cars will be cheaper. Can't have Nissan gaining massively, I despise that company after the Ghosn debacle. But I wouldn't mind Toyota, Honda, etc. to gain.

0 ( +0 / -0 )

I'm amused by the idea that Australia go out of its way to accommodate the economic needs of the UK, when typically the English/Australians calling for this are the loudest saying "migrants should assimilate to Australia ".

Sorry mate...the days of "merry old England " are not closely nor fondly remembered by most Australians.

It is surprising to hear you say that. Australia stood by the UK in a number of conflicts, being there when it needed us most. When Australia led the peace keeping effort in East Timor, the UK was one of the first nations to send troops to operate under Australian leadership, when we needed them. The US under Clinton would not send troops to operate under Australian leadership but did provided limited intelligence and logistical assistance. We help each other out as our close relationship remains relevant even today.

I disagree with your assertion that Australians do not hold fondness for merry old England. The numbers that show up for Royal visits is still large by any definition. If we can help them out then why would we not?

It seems you don't care but thankfully most Australians would not agree with you.

0 ( +0 / -0 )

Sorry mate...the days of "merry old England " are not closely nor fondly remembered by most Australians.

Considering the number who came from parts of the British Isles that aren't England, that's not too surprising. Peter14's English DNA, as proved by testing, isn't going to open many doors either with fellow Australians or to people in "northern western Europe", the English included. The English are far from the friendliest, sunniest bunch of people on the planet (that's my longstanding impression, as an Englishman), and they're not hurting for the company of people who have distant historical links with England, especially if it takes DNA testing to demonstrate it. Put in a nutshell, you don't know where you're from or who you're from, then no one gives a damn.

In fact, for many people, "I respect the Queen/we fought side by side in the war/I've got a soft spot for England" will be received with tolerant amusement if you're lucky. Suspicion and disdain, not necessarily openly expressed, would also be common reactions. English people can be hard to please (let alone the Welsh and the Scots), and that clodhopping approach really isn't one of the better ones.

-1 ( +0 / -1 )

No worries, as soon as the UK signs a new trade deal with the U.S., GM and Ford cars will be cheaper.

How?

Ford has been manufacturing in Britain since 1911. They're not American vehicles per se, they're domestically designed and produced, primarily for the domestic (British and European) market.

GM has owned Vauxhall since 1925. Its presence in Britain and Europe was through Vauxhall-Opel. Attempts to establish a viable market for Chevrolet vehicles post-2000 were not successful; they ditched that first, then sold off Vauxhall-Opel in 2017. There goes their domestic design and production in Europe. What's left is the option to export vehicles from the US or elsewhere. To make that work, they'd have to either radically adjust their product range, or create an entirely new market for American-style vehicles, which until now, and for many decades, buyers have resisted. They don't like them.

0 ( +0 / -0 )

No worries, as soon as the UK signs a new trade deal with the U.S., GM and Ford cars will be cheaper.

How?

Ford has been manufacturing in Britain since 1911. They're not American vehicles per se, they're domestically designed and produced, primarily for the domestic (British and European) market.

GM has owned Vauxhall since 1925. Its presence in Britain and Europe was through Vauxhall-Opel. Attempts to establish a viable market for Chevrolet vehicles post-2000 were not successful; they ditched that first, then sold off Vauxhall-Opel in 2017. There goes their domestic design and production in Europe. What's left is the option to export vehicles from the US or elsewhere. To make that work, they'd have to either radically adjust their product range, or create an entirely new market for American-style vehicles, which until now, and for many decades, buyers have resisted. They don't like them.

0 ( +0 / -0 )

Peter 14.

22 nations contributed to Interfet....the UN Group sent to East Timor.

The USA was behind the scenes and paved the way for Indonesian acceptance of the intervention.

https://en.wikipedia.org/wiki/International_Force_East_Timor

0 ( +0 / -0 )

delegations knocking on UK doors to secure deals- the UK has the upper hand!

how is that Eu already has an FTA with Japan, when the tarriffs kick in the 80% of UK manufactired cars are going to become more expensive to export to the EU. Even business leaders see that the advantage will actually be Japan's as they can move production back to Japan where its cheaper and export to both the EU and UK tariff free, assuming the UK gets a FTA with Japan. No matter which way you look at it the UK has the cards stacked against it and American wont allow huge imports of UK cars so that wont save them either

0 ( +0 / -0 )

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