Lately, we saw that UK Prime Minister scored a backing from Japanese Prime Minister Shinzo Abe for her struggling Brexit deal.
Abe says it is the desire of the whole world that Britain should avoid tumultuous No-deal Brexit. He exhibits his support for Theresa Mayâs Brexit deal. May just has a day for her proposed deal as voting has been scheduled for Tuesday at Westminster. While Mayâs Brexit deal has secured support and received foster after Japanese PM Shinzo Abe said âwhole worldâ is looking at Britain and expecting British MPâs will vote for Mayâs deal when it comes in front of house, many experts are still uncertain on how the things will take a turn.
The Chief of the State is battling to get support of the MPs at Westminster for her deal among conservative MPs, with more than a hundred of Westminsterâs members already taken oath to vote against Mayâs deal when it comes before the members of the house on January 15.
Nevertheless, Abe speaking to the press alongside May at 10 Downing Street, said that Japan is giving âtotal supportâ to Mayâs deal and urged MPs to avoid No-deal Brexit. Theresa got pleased with Abeâs comments and requested MPs to back her deal. This meeting comes amid the fears surmounting among the manufacturers of Japanese cars that no-deal could cost million in additional tariffs and major disruption can take place. Major car manufacturers including Honda, Toyota and Nissan all have factories in UK, and they use it as a gateway to European market. Approximately, 80% of Toyotaâs UK manufactured cars are exported to European market, compared with 40% and 50% of Honda and Nissan.
Japanese Prime Minister was also concerned about another 1000 or more Japanese firms operating in UK, which are dependent on no hard-border with the rest of the EU.
Companies including Panasonic â electronic giants have announced they are shifting their head quarters to the Netherland because of Brexit.
May said, âJapan and UK are natural allies, both of us face many common challenges, but also the same gigantic opportunitiesâ, speaking before the visit.
Both agree to start new partnership and dynamic relation ahead of Brexit, and they also said they will improve peopleâs lives and make 21st century for the better.
Japan is the second largest source of non-European Foreign direct investment and largest export market for Britain, outside the EU.
While the whole scenario projects a part of the globe being in deep support for a compatible arrangement and the wish to avoid no-deal Brexit is hoped to stand a chance in the Parliament, the results are expected to be catastrophic if Mayâs government does not find any endurance. Looking at the big day, many industrial experts and market players have become sceptical and are eagerly waiting for the outcome. Meanwhile, Japan and UK are also looking at how other aspects around the Trans-Pacific Partnership along with free trade would unfold between the two geographies. Now, the speculation zone may have some revelations soon that would set the parlance of harmony among various geographies.