Business Secretary Vince Cable today completed a tour of Japan with a speech to 200 business leaders, in which he re-affirmed the importance of the UK’s relationship with the country and the Government’s support in dealing with the aftermath of the disaster.
In his speech, he underlined that the UK stood ready to help with recovery post-earthquake, including on nuclear clear up.
The bilateral trade and investment relationship was deep and strong, but there was potential to improve it still further, and that low carbon vehicles and power generation were one of the sectors where there was great potential to work together.
On trade, the UK had found that an open economy encouraged investment and trade. An EU-Japan Economic Integration Agreement, towards which a scoping study was agreed in Brussels on 28 May, could result in EUR100 billion in more trade. The UK strongly supported moves towards an EIA, but Japan had to take the opportunity to open its markets and encourage investment from overseas.
UK and Japan standing together for recovery and growth - Speech by Secretary of State Vince Cable
UK Trade & Industry
Foreign & Commonwealth Office