The governments of Japan and Britain signed a comprehensive economic partnership agreement on Friday.
The agreement is expected to take effect on Jan. 1, following approval by Japan's Diet and Britain's Parliament.
The new trade deal concluded following Brexit is largely in line with the current EU-Japan economic partnership agreement in terms of tariffs.
It has become the first EPA that Britain signed with a major country after leaving the EU in January this year.
Foreign Minister Toshimitsu Motegi and Elizabeth Truss, the British secretary of state for international trade, who was visiting Japan, signed the agreement at a ceremony held in Tokyo on Friday.
The Japanese government will submit a bill to approve the accord to an extraordinary Diet session to be convened on Monday.
Under the new deal, tariffs on about 94% of imports from Britain and tariffs on about 99% of imports from Japan will be eliminated, including items subject to future abolition.
Tariffs on auto parts exported from Japan to Britain will be abolished in 2026.
"In addition to ensuring business continuity, the deal will further promote trade and investment between Japan and Britain," Motegi said.
Britain has also shown interest in joining the Trans-Pacific Partnership (TPP). Yasutoshi Nishimura, minister in charge of economic revitalization and TPP matters, was scheduled to meet Truss on Friday afternoon to confirm cooperation between the two governments for Britain's joining the pact.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
