Japan's leading business bodies have called for Tokyo's trade deal with the European Union to apply to Britain during the around two-year transition phase that will help smooth the U.K.'s exit from the bloc.

In a joint statement, the Japan Business Council in Europe and Keidanren (the Japan Business Federation) said they wanted trade and regulations between Britain and the EU to remain as close as possible after the transition phase.

Japan has agreed to a trade deal with the EU in principle but it is not yet in force.

"If the EU-Japan Economic Partnership Agreement has entered into force before Brexit, we call upon the EU, the U.K. and Japan to take necessary measures so that all parties, including the U.K., benefit from the agreement . . . and for the duration of the transition period," they said.