The imminent EU-Japan free trade agreement (potentially worth £5 Billion annually to UK) features among other key EU trade negotiations in the Government's update to the European Scrutiny Committee.
The Government updates the European Scrutiny Committee regularly on EU trade negotiations. Given current public discussion over trading options, model trade agreements, and priority sectors for UK trade following withdrawal from the EU, the Committee considered there was public interest in advertising more widely such updates from the Government.
The briefing covers all extant EU trade negotiations. In addition to the forthcoming provisional application of the EU-Canada Comprehensive Economic Trade Agreement (CETA), information is also provided on
- the imminent finalisation of the EU-Japan free trade agreement, which the Government estimates could add £5 billion to £11 billion to the UK economy annually;
- progress in furthering agreements with regional groupings such as the Southern African Development Community, the East African Community and members of the Association of South East Asian Nations (ASEAN);
- negotiations on the Trade in Services Agreement and the Environmental Goods Agreement—both of significant relevance to the UK.