Published: Fri, February 09, 2018

Nissan and other Japanese investors to meet with United Kingdom leader

Nissan and other Japanese investors to meet with United Kingdom leader

With over 1,000 Japanese businesses in the United Kingdom, the country is the UK's 11th largest trading partner, with investment into Britain reaching £46.5 billion in 2016.

Japanese firms have spent billions of pounds in Britain over the past decades, encouraged to set up in the country by successive governments promising a business-friendly base from which to trade across the continent.

According to commentators, the best possible trade deal between the United Kingdom and U.S. would provide around half of any gain from all non-EU deals, which would increase pressure on Theresa May to strike an agreement with Donald Trump as quickly as possible after Britain leaves the EU.

"So it is as simple as that", he said. "This is all high stakes that I think all of us need to keep in mind", he said.

According to economists, the benefits from boosting trade with non-EU countries would not offset the slower growth forecast under every form of Brexit.

"Uncertainty is a major concern for an economy", it said.

That could include reimposing tariffs or customs checks, both of which Britain is supposed to be free of as a member of the European Union internal market during the transition to December 2020.

Last year, Soros suggested the United Kingdom may never leave the European Union if the bloc reforms itself while Brexit negotiations are taking place. May's Cabinet is divided between those who want to remain close to the single market and customs union and those who want a clean break.

Hitachi Europe's Deputy Chairman Stephen Gomersall, Mitsubishi CEO for Europe and Africa Haruki Hayashi, SoftBank Investment Advisers UK CEO Rajeev Misra and Nomura's Executive Chairman in Europe, the Middle East and Africa Yasuo Kashiwagi joined the meeting with Japanese investors.

Carmakers Nissan, Toyota and Honda were due to attend the talks, along with representatives from banks and drug companies.

Collectively the three carmakers build almost half of Britain's 1.67 million cars.

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