Britain and Japan are all set to begin their negotiations towards finalizing a post-Brexit trade agreement and both sides express optimism of working out a deal that can be implemented by the end of this year. As Britain gets ready to leave the EU by the end of 2020, negotiating free trade deals around the world are its among its top priorities, and negotiations with the US towards such a free trade agreement are already underway.

Britain’s trade minister Liz Truss is all set to meet with Japan’s Minister for Foreign Affairs   Toshimitsu Motegi via video conference on Tuesday to kickstart the round of talks. Britain has expressed interest in building up on Japan’s existing trade agreement with the EU, with the inclusion of additional areas like digital trade.

In an official statement regarding the trade talks, Truss remarks, “This deal will provide more opportunities for businesses and individuals across every region and nation of the UK and help boost our economies following the unprecedented economic challenges posed by coronavirus.”

The trade relationship between Japan and Britain was worth 31.4 billion pounds in 2019, making Japan Britain’s fourth largest trade partner outside of EU.