UK and Japan Seal $24 Billion Investment, Tech Partnerships for Job Growth
Major UK-Japan Investment and Technology Agreements
LONDON, June 13 (Reuters) - Britain and Japan are set to agree investment and technology partnerships worth more than £18 billion ($24 billion), expected to create tens of thousands of jobs, as Prime Minister Keir Starmer meets his Japanese counterpart Sanae Takaichi on Sunday.
Key Details of the Agreements
Here are some of the details as set out by the British government:
Investment Pipeline and Financial Services
• The agreements include a Japanese five-year investment pipeline of more than £9 billion in infrastructure and financial services, alongside plans to unlock up to £9 billion for UK offshore wind projects.
Offshore Wind Projects
• The offshore wind component is expected to support 5.9 gigawatts of capacity across projects in Scotland and the Celtic Sea.
Technology Partnership Initiatives
• The two countries will also launch a new technology partnership covering areas such as AI, semiconductors and quantum computing.
Corporate Collaborations
• Separately, companies including Hitachi Energy, Rolls-Royce and Eisai are also expected to announce investments and collaborations spanning power grid expansion, nuclear technology and life sciences.
Additional Agreements and Upcoming Events
• Other business and government agreements are expected to be signed during Takaichi's visit, which comes ahead of the June 15-17 G7 summit in France.
Exchange Rate Information
($1 = 0.7459 pounds)
(Reporting by Sam Tabahriti; Editing by Emelia Sithole-Matarise)
