The IoD Japan Business Group, International was established to promote and strengthen business ties between the United Kingdom and Japan, and it is national group.
The UK signed a free trade agreement (FTA) with Japan on 23rd October 2020. This Comprehensive Economic Partnership Agreement (CEPA) maintains the benefits of the EU-Japan Economic Partnership Agreement (EPA) with enhancements in mutual interest areas. Financial services firms, food producers, coat-makers and biscuit bakers, and cheese producers would benefit from the agreement, which represented
an "important step" towards Britain joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the Asia-Pacific region. The joint signing of the Free Trade Agreement between the two countries in October 2020 marked a new era in British-Japanese relations, ensuring a closer alliance of two like-minded democracies, both committed to free trade and prosperity. Bringing together two of the world’s most technologically advanced nations with an agreement tailored to both economies will see benefits for digital and data work, financial services, food and drink and the creative industries. The increased competitiveness of both nations will attract further investment in London and Tokyo, helping both countries thrive in the aftermath of the worldwide pandemic.
The Institute of Directors (IoD) has a role here in promoting the United Kingdom by developing deeper relations in Financial Services, Foreign Direct Investment, Digital, Transport, Technology and more. The Institute of Directors decided to create a platform to connect small and medium-sized enterprises in the UK and Japan for the mutual benefit of both countries and to benefit by promoting international trade business and corporate governance best practices.
The Group is national and it works in partnership with other well established organisations operating in the UK and Japan, such as the Japan Association of Corporate Executives (Keizai Doyukai), and the Embassy of Japan in the United Kingdom, and many others. It has plans to extend partnerships with institutes of developing economics, trade organisations, and research thinktanks. It intends to be relevant to IoD members in the UK, international members of the IoD and Japan business people. It will deal with issues and opportunities that helps IoD members succeed in doing business in and with Japan.