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Thank you.

It鈥檚 good to be here to discuss British-Japanese trade and investment 鈥� something of great importance to both our countries.

The scale of investment alone makes Japan an important partner for the UK - 拢46 billion in the UK according to latest figures.

And we have common interests more broadly - we鈥檙e both champions of a rules-based international system.

That trading and investing relationship has deep roots 鈥� the UK receives a lot of investment from across Asia, but Japan was the first.

And it鈥檚 continuing to flourish right now: Japan is the UK鈥檚 main source of investment in Asia, and there鈥檚 around 100 new projects per year.

To give just 2 examples, from very different industries - Toyota is currently investing 拢240 million at its Burnaston car plant in Derbyshire, securing 750 jobs; Softbank now employs 2,000 people thanks to its acquisition of ARM, and it鈥檚 continuing to expand its operations there.

And as you know, Your Excellency Ambassador Tsuruoka, we opened Telehouse and its Japanese parent company KDDI鈥檚 拢135 million data centre in the London Docklands in 2016.

So I am sure that once we鈥檝e left the EU, Britain will remain a natural investment destination for Japanese companies, and a natural partner for Japan.

After all, the UK is far more than a stepping stone for foreign companies to trade into the EU.

According to recent World Bank figures, we are the fifth largest economy in the world. That makes the UK one of the world鈥檚 largest markets, in our own right.

It鈥檚 not only a large market 鈥� it鈥檚 a market that is and will remain almost uniquely friendly to business, including foreign investors 鈥� the World Bank independently ranks us seventh in the world for the ease of doing business.

Foreign companies have 拢1.2 trillion invested here 鈥� that鈥檚 for a good reason.

And it鈥檚 a market where you can easily access the skills, finance and business services you need to support your business.

We speak the world鈥檚 language, in the world鈥檚 most convenient timezone 鈥� and one particularly convenient for Japanese companies.

From London you can trade with Asia in the morning and America in the evening 鈥� as I remember from my time working for the Industrial Bank of Japan a mile downstream from here, almost 30 years ago.

So London can provide a link between the 2: it鈥檚 5 hours from London to New York, whereas Tokyo and New York are almost exactly on opposite sides of the globe.

Indeed the City of London, alongside New York, are the world鈥檚 largest financial centres.

And London has been Europe鈥檚 largest financial centre for hundreds of years 鈥� it鈥檚 hardly going to disappear when we leave the EU after less than 50.

And we have world-renowned professional services 鈥� including a legal system that is so respected it鈥檚 chosen for contracts the world over.

Again, that鈥檚 a reputation grounded in hundreds of years of precedent 鈥� it won鈥檛 disappear when we leave the EU.

Nonetheless, I understand that there will be businesses for whom one of the attractions of the UK market has been access to the European market.

To which I hope I can offer reassurance. Brexit does not mean Japanese investors in the UK will be unable to access the European market 鈥� as I said to the Keidanren when I met them in March this year to discuss the position paper they co-authored with JBCE.

Now, Japan itself trades significantly with continental Asia, without being in any form of Customs Union; and I鈥檓 sure Britain will continue to have excellent access to EU markets, as this is strongly in our common interest.

And we鈥檙e looking to sign a good trade agreement with the EU, to give firms based in the UK smooth and extensive access to the single market.

I鈥檓 sure we鈥檒l get that.

It鈥檚 strongly in both sides鈥� interests to reach a good agreement 鈥� on the day we leave, we鈥檒l become overnight the EU鈥檚 second-largest export market: only slightly behind the US, and well ahead of third-placed China.

It鈥檚 not a zero-sum game. The EU won鈥檛 want to lose their second-largest export market. That calculation isn鈥檛 changed by how big or small the impact is on us.

And it will be made easier by being the only trade agreement in history where both sides start from a position of regulatory alignment.

Which means that if there鈥檚 a will, there can be a way.

And I鈥檓 sure there will be the will to sign a deep and comprehensive FTA 鈥� there certainly is on our side, and there will be on the EU side.

Not just because it鈥檚 in our mutual self-interest, but because we are and will remain close allies with the EU.

The EU-Japan trade agreement - the Economic Partnership Agreement or EPA - is currently being finalised.

We鈥檝e been fully supportive of the EU signing that 鈥� in fact, we鈥檝e been one of the parties in the EU pushing for it the strongest.

Because so long as we鈥檙e a member of the EU, we鈥檙e going to be a constructive member. So, I hope that the EU-Japan agreement will be signed smoothly 鈥� and I hope that the UK can transition that smoothly.

I was very pleased by the agreement between our 2 Prime Ministers to quickly establish a new economic partnership, based on the final terms of the one between the EU and Japan.

But I hope for more than that, too. We鈥檙e leaving the Customs Union not because we want to turn the UK inwards, but because we want to turn it outwards, to the world.

And that means deepening and strengthening our ties with our natural partners, like Japan.

That鈥檚 exactly what the UK has been doing, from Theresa May鈥檚 visit last year, to a recent agreement between the government of Tokyo and the City of London on the financial industry.

As set out in the Japan-UK joint declaration in August last year, Japan and the UK are among the strongest global champions of free trade, and both our countries are committed to work quickly to establish a new economic partnership as the UK exits the European Union.

Because business and investment are right at the heart of our vision for a Global Britain.

And they鈥檙e right at the heart of our relationship with Japan. I look forward to that continuing.