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The G7 summit, which is all set to take place in Hiroshima on Friday, will witness leaders from all over the world. UK Prime Minister, Rishi Sunak arrived in Japan to unveil the Hiroshima Accord with the Japanese Prime Minister, Fumio Kishida as the tensions between China and Taiwan is rising. The summit is to address the threats that Russia and China pose to their respective neighbours and to the world at large. The UK considers Japan as a like minded country in terms of shared interest in innovation and technology.
The accord will play a major role in strengthening the UK’s ties with a major economy of the world as the country faces pressure on the economic front after its exit from the European Union. Prime Minister Rishi Sunak addressed the concerns raised by car manufacturers over the loss that the industry has been incurring since Brexit.
THE HIROSHIMA ACCORD
The accord, which includes exercises in Indo Pacific by the Royal Naval Unit, Carrier Strike Group and support private business deals of £18bn, will further strengthen defence ties between the two countries. The two nations will hold discussions on supply of semiconductors, which is used in smartphones, cars, medical devices and other gadgets, all of which was earlier imported from Taiwan, which is now facing threats from China. The UK claimed Japanese Corporations, Toshiba, Mitsubishi and Sumitomo are investing £18bn in property, windfarms and several other such projects in the United Kingdom.
The government said Japan was the fifth largest investor in the UK, with trade in goods and services worth £27.7bn last year. Mr Sunak said the new investment was a “massive vote of confidence in the UK’s dynamic economy” from some of Japan’s top firms. “The sky’s the limit for British and Japanese businesses and entrepreneurs.”
SANCTIONS ON RUSSIA
The G7 ( Group of seven) nations have imposed sanctions on Russia for its belligerence towards Ukraine. The sanctions include decrease in import of Russian diamonds , ships and aircrafts. this can prove to be a major blow for the Russian economy as it is a significant source of revenue for the nation. despite widespread criticism, Russia refuses to resolve its conflict with Ukraine. The UK Prime Minister will be holding one on one meetings with Indian Prime Minister Narendra Modi and French Prime Minister Emmanuel Macron.
PRESSURE FROM CAR INDUSTRY :
Sunak seemed perturbed when asked about the adverse effect on car manufacturing in the UK after Brexit. Defending himself, he told the broadcaster that, not just in England, car manufactures across Europe are facing similar crises. The country is in talks with the EU to find a plausible solution for the growth of the automobile industry and more. Highlighting the billion pound investment by Nissan for manufacturing of electric vehicles in England, Sunak tried to pacify the worries manufactured by assuring that the tough times the nation is facing will wade away sooner than expected. He also added that the membership of the UK in the trans-pacific trade partnership opens up opportunities for car manufacturing and job creation back home. The visit holds special significance as it emphasize UK’s commitment in strengthening its defence ties post Brexit and creating opportunities for investments while dealing with obstacles in global trade after UK’s exit from the EU.
Later, Sunak and Kishida had dinner together at a place previously owned by Kishida’s grandfather. Sunak was seen wearing socks featuring the Hiroshima Toyo Carp Baseball team- the team is owned by Kishida. Sunak will plant a tree during the visit to Hiroshima, to remember the victims of the horrendous atomic bomb attack which took the lives of 140000 people in Hiroshima during world war 2.
