Japanese Prime Minister To Theresa May: Avoid No-Deal Brexit

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Last Saturday, Shinzo Abe, the Japanese Prime Minister, has urged Theresa May, the Prime Minister of the United Kingdom, to ensure stability as Britain leaves the European Union and to do what she can to avoid a no-deal Brexit.

At a speech during a bilateral meeting on the sidelines of the G20 summit in Argentina, Abe praised PM May for striking a deal with the European Union.

May was able to secure an agreement with the leaders of the European Union on the 25th of November. The deal would see the United Kingdom leave the bloc on the 29th of March 2019 with continued close trade ties, however, the odds seemed stacked against her getting it through a deeply divided British parliament.

Speaking through a translator, the Japanese Prime Minister stated: “I would like to once again ask for your support to avoid no deal as well as to ensure transparency, predictability as well as legal stability in the Brexit process.”

PM May informed Abe that the agreement offered “a good deal for businesses in the UK, including the many Japanese companies who have made significant investments into the UK and who will be able to continue, on the basis of our deal, to trade well with the European Union from the UK.”

Both of the leaders said that they are looking forward to working more closely together on trade in the future, including the possibility of the United Kingdom joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Japanese corporates have repeatedly issued warnings that a no-deal Brexit could affect the attractiveness of the United Kingdom as a destination for overseas investment.

Last month, Akio Toyoda, the president of Japanese car maker Toyota, said that a no-deal Brexit should be avoided at all costs.

He stated: “We hope that both the UK and EU governments will continue to make maximum efforts to reach a satisfactory settlement and that a ‘withdrawal without agreement’ is avoided at all costs.”