BIA response to DIT consultation on UK-Japan trade

The BIA has responded to the Department for International Trade (DIT)’s consultation on UK-Japan trade.

In our submission, we argued:

• The top priority for the UK life sciences sector as the UK leaves the EU is to ensure UK-EU trade remains as frictionless as possible and aligned on medicines regulation.
• With its advanced economy, high levels of R&D investment and growing biotech sector, Japan offers many opportunities for UK life sciences companies. Its pharmaceutical and healthcare market is the third largest in the world and with a rapidly ageing population, the market is set to grow further.
• There are opportunities for the UK to work to strengthen Japan’s IP system, enable more collaborative R&D partnerships between the countries, and emphasise the importance of transparent processes and stakeholder engagement as Japan implements its new health technology appraisal (HTA) system.