Thursday, October 8, 2020

Is Great Britain Returning to the Region “East of Suez”?

https://journal-neo.org/2020/10/07/is-great-britain-returning-to-the-region-toward-the-east-of-suez/ 


 

On September 11th, Japanese Minister for Foreign Affairs Toshimitsu Motegi and UK Secretary of State for International Trade Elizabeth Mary Truss announced during a video conference that they had successfully wrapped up three months of talks on signing a Free Trade Agreement (FTA), which will enter into force in the beginning of next year.

This does not mean an immediate, one-time repeal of tariffs in bilateral trade, although this is stipulated for a number of goods and services. Generally speaking, starting on January 1st, 2021, a procedure will be initiated for the gradual (over a period of up to 6 years, for example, for Japanese cars imported by the UK), abolition of tariff barriers.

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