Accompanying a diverse business delegation showcasing the strength of British business and sectors including financial services, life sciences, defence and cyber, Dr Liam Fox hailed the visit as a vital opportunity for British businesses to further engage with Japanese buyers and investors and encourage inward investment back into the UK.

The International Trade Secretary also met with the Minister of Economy, Trade and Industry, Hiroshige Seko to discuss the potential for future growth as we leave the EU through a new trade and investment working group, and the agreement that the EU-Japan Economic Partnership Agreement (EPA) will form the basis of our future bilateral trade relationship.

International Trade Secretary Dr Liam Fox said:

As an international economic department, it’s important that we’re building upon our already strong trade relationships with global partners like Japan as we leave the EU, and it is our intention that we will lay the ground for an ambitious trade deal based on the EU-Japan agreement.

The UK is world-renowned for our innovation and expertise across a range of sectors including financial services and life sciences, and we must seize the many commercial opportunities and partnerships ahead of us.

Leading the UK business delegation to engage with Japanese buyers and investors is a key part of showcasing what the UK offers the world now and as we leave the EU, and every penny of investment secured boosts local economies and creates new jobs back in the UK.

Following the UK-Japan Business Forum attended by over 200 CEOs of British and Japanese companies, DIT and JETRO (Japan External Trade Organisation) signed a Memorandum of Cooperation (MoC) outlining practical ways of support to help UK and Japanese businesses. This includes running joint events and promotion in sectors where the UK is looking to attract Japanese investment, such as renewable energy and pharmaceuticals, and where the UK is looking to trade with Japan, such as defence and security and fintech.

A MoC was also signed with the Japan Bank for International Cooperation to support energy infrastructure investment from Japan into the UK.

As part of the visit, the International Trade Secretary also welcomed over £519 million worth of commercial deals secured by UK companies, creating 186 new jobs in the UK.

This includes a £500 million export and investment package by Aston Martin comprising of:

• exports from its UK Gaydon and St Athan plants to Japan
• investments in a new headquarters in Tokyo
• further growth of its dealer network across Japan

British life sciences company Heptares and Japanese corporation Sosei also announced today a pioneering industry-academia collaboration with the prestigious Juntendo University in Tokyo to design new therapies for hard-to-heal wounds (such as diabetic foot and pressure ulcers).

After reaching $1 billion of transactions, London based fintech cryptocurrency firm WIREX, announced the opening of a new Asian headquarters this week in Tokyo. The move, which will also create 30 new jobs back in the UK, showcases the strength of the UK fintech sector, creating demand through exporting expertise around the world.

Contact the DIT Media Team on 0207 215 2000.

Follow us: @tradegovuk or gov.uk/dit.

Tourists from around the globe will soon be able to step foot on the longest coastal walking route in the world as work is officially underway along every stretch of the England Coast Path.

Natural England is now working on 100 per cent of this 2,700 mile walking route, which when completed will allow people to explore new and improved routes along the entire length of the English coastline – taking in iconic sights like the White Cliffs of Dover, the beaches of Norfolk and the picturesque North Yorkshire coast.

England’s spectacular coastline already attracts 300 million visits a year, with people spending up to three times more than at any other holiday destination.

And with the South West stretch already worth £400 million to the economy, by offering new and improved access to some of the country’s best tourist hot spots, the England Coast Path will bring a huge boost to tourism – an industry already worth £106 billion.

Rural Affairs Minister Lord Gardiner said:

We have some of the most spectacular coastland in the world, with iconic sites such as the White Cliffs at Dover and the picturesque beaches at Whitby attracting millions of tourists and walkers every year.

The England Coast Path is a hugely significant project – helping people across the country to access our stunning coastline and providing a significant boost to the economy of our coastal communities.

By working closely with landowners, farmers and local communities, we are well on track to creating the world’s longest coastal path by 2020.

Natural England’s Chairman Andrew Sells added:

We are now working on all sections of our beautiful and varied coastline so the ability to walk the longest, continuous coastal walking route in the world is on the horizon.

I’m extremely proud of the strides we have taken to reach this point. We will continue to work closely with landowners, communities and local authorities to create the best possible route, to bring more people closer to nature, and benefit local economies.

So far Natural England has opened just over 300 miles of coastline, helping thousands of people access some of England’s most spectacular coastal scenery.

The new routes link up the best existing coastal paths, create new ones where there were none before, and in some cases move paths nearer the sea so walkers have a better opportunity to properly enjoy the country’s coastal views and beaches.

Most recently, routes have opened in North Yorkshire and Norfolk, with further stretches set to open in Kent, the north east and Cumbria over the coming months.

Updated: Updated to issue 12 March 2018

Updated: Updated to issue 14 February 2018

Today (31 August 2017), the Chancellor announced the re-appointments of two Prudential Regulation Committee (PRC) external members, Sandra Boss and Mark Yallop, for additional terms of three years. The Prudential Regulation Committee is responsible for the most important decisions of the Prudential Regulation Authority (PRA), the UK’s micro-prudential regulator.

Sandra Boss’ second term on the PRC will begin on 1 September 2017 and end on 31 August 2020 and Mark Yallop’s second term on the PRC will begin on 1 December 2017 and end on 30 November 2020.

The Chancellor of the Exchequer, Philip Hammond said:

I am delighted to announce the re-appointment of Mark and Sandra to the PRC. They have both brought considerable expertise to the Committee throughout their terms as external members and I am confident their insights will continue to enhance stability and resilience in the UK’s financial sector.

Sandra (Sandy) Boss joined the PRA Board on 1 September 2014 and subsequently became an external member of the PRC on 1 March 2017 when the Committee was established. Sandy holds non-executive directorships at Enstar Group Limited and Elementis plc. Sandy has held other non-executive and advisory appointments. She was formerly a Senior Partner at McKinsey and Company from 2005 to 2014 and a Partner from 2000. At McKinsey, Sandy specialised in investment banking and risk.

Mark Yallop joined the PRA Board on 1 December 2014, and subsequently became an external member of the PRC on 1 March 2017 when the Committee was established. Mark became Chairman of the FICC Markets Standards Board Limited (FMSB) in July 2016. He was previously UK Group CEO for UBS from 2013-14. Prior to this he was Group COO for ICAP plc from 2005-11 and spent 20 years at Deutsche Bank from 1984-2004. He has also been a member of numerous financial services industry bodies.

About the Prudential Regulation Committee

The Prudential Regulation Authority supervises banks, insurers and major investment firms.

The PRA’s most important decisions are taken by the Prudential Regulation Committee, chaired by the Governor of the Bank of England. Five members are Bank staff, including the Governor and four Deputy Governors. The Prudential Regulation Committee has a majority of external members, including the Chief Executive of the Financial Conduct Authority and six others selected for their experience and expertise in financial services.

With these re-appointments, the list of PRC members from (31 August 2017) will continue to be:

• Mark Carney – (Governor)
• Sam Woods – (Deputy Governor, Prudential Regulation & Chief Executive of the Prudential Regulation Authority)
• Sir Jon Cunliffe – (Deputy Governor, Financial Stability)
• Dr Ben Broadbent – (Deputy Governor, Monetary Policy)
• Andrew Bailey – (Chief Executive, Financial Conduct Authority)
• David Belsham – (External member)
• Sandra Boss – (External member)
• Norval Bryson – (External member)
• Charles Randell – (External member)
• David Thorburn – (External member)
• Mark Yallop – (External member)