UK, Japan poised to seal a landmark $24 billion investment and tech partnerships deal

The United Kingdom and Japan are set to agree on an investment deal worth £18 billion ($24 billion) with an aim to create tens of thousands of jobs in both nations. According to The Guardian, UK Prime Minister Keir Starmer will announce the deal after welcoming his Japanese counterpart Sanae Takaichi to Downing Street on Sunday ahead of the G7 summit next week.

As per the report, the deliverables would include more than 10 commercial and government agreements, including a whopping £9 billion offshore wind deal. It would also include Rolls-Royce deepening its collaboration with Japan’s Atomic Energy Agency, Downing Street spokesperson said, with both nations signing a new agreement to develop next-generation technologies.

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During Takaichi's visit to the UK, Japanese and British business leaders are expected to sit down for discussions on the future opportunities for economic growth between the two nations. “These landmark agreements will bring multibillion-pound investment into the UK, creating tens of thousands of new jobs and driving new developments," Starmer said.

“As G7 economies and close security partners, we are working together with Japan on some of the most innovative technology in the world, harnessing the best of British and Japanese research and industry to deliver growth and security to every corner of the United Kingdom," he added.

UK-Japan eye defence collaboration

According to The Guardian, the discussions between the two leaders would also include helping British defence firms access Japanese investment, No 10 said in a separate statement.

It is pertient to note that the landmark deal with Japan is coming at a time when Starmer’s leadership survival plans were rocked by the shock resignation of John Healey as defence secretary over a dispute about long-term funding for the military.

Apart from Healey, armed forces minister Al Carns also resigned from his post along with two parliamentary aides. Not only this, the British premier is facing pressure to resign and a threat of a leadership challenge within his Labour Party.