{"id":6386,"date":"2019-01-16T06:49:26","date_gmt":"2019-01-16T06:49:26","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/asia-moves-to-reassure-firms-as-brexit-uncertainty-spikes\/"},"modified":"2019-01-16T06:49:26","modified_gmt":"2019-01-16T06:49:26","slug":"asia-moves-to-reassure-firms-as-brexit-uncertainty-spikes","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/asia-moves-to-reassure-firms-as-brexit-uncertainty-spikes\/","title":{"rendered":"Asia moves to reassure firms as Brexit uncertainty spikes"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape has-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Japan consumers\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/A7BA\/production\/_101583924_japanshopping.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><figcaption class=\"media-caption\"><span class=\"off-screen\">Image caption<\/span><br \/>\n                <span class=\"media-caption__text\"><br \/>\n                    Trade between the UK and Japan hit \u00a328bn last year<br \/>\n                <\/span><br \/>\n            <\/figcaption><\/figure>\n<p class=\"story-body__introduction\">Countries in Asia have moved to reassure businesses as the defeat of Theresa May&#8217;s Brexit deal creates fresh uncertainty for their economies and trade. <\/p>\n<p>Japan, a vocal critic of a no-deal Brexit, said it would seek clarity on the outlook and support firms.   <\/p>\n<p>South Korea and Australia said they would continue to negotiate on new or existing trade deals. <\/p>\n<p>Market reaction in Asia following the vote was muted. <\/p>\n<p>The BBC&#8217;s Asia business correspondent Karishma Vaswani said there was little movement in the pound in Asia hours on Wednesday as traders said &#8220;Brexit fatigue&#8221; had crept in. <\/p>\n<ul class=\"story-body__unordered-list\">\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46883147\" class=\"story-body__link\">Pound rises after Brexit vote<\/a><\/li>\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/uk-politics-46887852\" class=\"story-body__link\">Theresa May faces confidence vote<\/a><\/li>\n<\/ul>\n<p>But countries in the region moved to reassure local businesses after the rejection of a Brexit deal stoked fresh uncertainty.<\/p>\n<p>Japan&#8217;s chief cabinet secretary Yoshihide Suga said the government would continue to seek clarity on the outlook, and would support firms to minimise the negative impact of Brexit.  <\/p>\n<p>Last week the country&#8217;s Prime Minister <a href=\"https:\/\/www.bbc.co.uk\/news\/uk-politics-46826345\" class=\"story-body__link\">Shinzo Abe said the &#8220;whole world&#8221; wants the UK to avoid a no-deal Brexit<\/a>. <\/p>\n<p>A no-deal Brexit would see the UK leave without a withdrawal agreement and start trading with the EU on the basis of World Trade Organization rules.<\/p>\n<p>Trade between the UK and Japan hit \u00a328bn ($36bn) last year, and Japanese companies already employ 150,000 people in the UK.<\/p>\n<h2 class=\"story-body__crosshead\">&#8216;Uncertain times&#8217;<\/h2>\n<p>The South Korean government will hold an inter-agency meeting on Wednesday on next steps. <\/p>\n<p>They will discuss treaties &#8211; including the South Korea-EU free trade agreement &#8211; and the direction of related consultations with Britain, according to ministers in Seoul. <\/p>\n<p>South Korea&#8217;s Yonhap news agency reported the trade ministry will hasten efforts to secure a free-trade agreement with Britain. <\/p>\n<p>More than 100 South Korean firms operate in Britain, with two-way trade totalling \u00a311.2bn.<\/p>\n<p>Australia&#8217;s trade minister Simon Birmingham said Brexit uncertainty had prompted local businesses to take &#8220;contingency actions&#8221;. <\/p>\n<p>In an interview with the ABC radio, the minister said firms should be reassured that the government is taking &#8220;a belt and braces approach to Brexit, that we&#8230; have free trade agreement negotiations underway with the EU&#8221; and a trade working group set up with the UK. <\/p>\n<p>Mr Birmingham said Australia is working closely to ensure existing agreements could be replicated &#8220;to keep the trade and market access arrangements as steady and stable as possible in these very uncertain times&#8221;.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46887986\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Image caption Trade between the UK and Japan hit \u00a328bn last year Countries in Asia have moved to reassure businesses as the defeat of Theresa May&#8217;s Brexit deal creates fresh uncertainty for their economies and trade. Japan, a vocal critic of a no-deal Brexit, said it would seek clarity on the &hellip; <\/p>\n","protected":false},"author":0,"featured_media":6387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=6386"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/6387"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=6386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=6386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=6386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}