City of London signs agreement with Tokyo to boost collaboration

 
Helen Cahill
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It is hoped that the agreement will boost investment (Source: Getty)

The City today committed to closer cooperation with Tokyo in a bid to boost trade between the financial services sectors in the UK and Japan.

Charles Bowman, Lord Mayor of the City of London, signed a Memorandum of Understanding (MoU) with the Tokyo Metropolitan Government today.

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The four-year agreement is intended to increase cooperation in fintech and asset management, and aims to promote investment between the two cities.

The signing of the agreement took place at the British Embassy in Tokyo. Bowman signed the MoU while on a video conference with Yuriko Koike, the Governor of Tokyo.

Last year, exports of financial and professional services to Japan reached £4.6bn, an increase of nearly £1.3bn year-on-year.

Bowman said: “I am delighted to sign the Memorandum of Understanding today alongside the Governor of Tokyo. Our great cities have a long history of collaboration across many sectors, and I am confident that the signing of the agreement today will lead to even greater cooperation.”

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