Japan Seeks to Reach Post-Brexit Trade Deal With U.K. on Friday

(Bloomberg) -- Japan is seeking to conclude months of talks on a broad post-Brexit trade deal with the U.K. later Friday when top negotiators speak via a video conference.

Japanese Foreign Minister Toshimitsu Motegi, who has led Tokyo’s team on the pact, told reporters in Tokyo he will be speaking with U.K. Trade Secretary Liz Truss on the agreement. Japan’s existing accord with the European Union, which includes the U.K., runs until the end of the year.

The U.K. expects the deal to increase trade with Japan by about 15 billion pounds ($19.2 billion) a year in the long term. Trade between Britain and Japan was valued at more than 39 billion pounds last year, and Japan is the U.K.’s eleventh-largest export market.

Motegi said earlier this month that Japan is seeking to reach the agreement before Prime Minister Shinzo Abe steps down, which is expected to take place on Sept 16. Abe said he’s leaving office for health reasons.

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