United Kingdom — to Join Trans-Pacific Partnership CPTPP

  • "One year after our departure from the EU, we are forging new partnerships that will bring enormous economic benefits for the people of Britain,” said UK Prime Minister Johnson.
  • "Applying to be the first new country to join the CPTPP demonstrates our ambition to do business on the best terms with our friends and partners all over the world and be an enthusiastic champion of global free trade,” he said.
  • "Joining CPTPP will create enormous opportunities for UK businesses that simply weren’t there as part of the EU and deepen our ties with some of the fastest-growing markets in the world,” said Truss.

The United Kingdom will apply for membership of the Trans-Pacific Free Trade Agreement – Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) – the British Ministry of International Trade announced on Saturday. International Trade Minister Liz Truss will officially ask for the UK to join this free trade agreement on Monday.

The UK is hoping to join the Trans-Pacific Partnership under its post-Brexit plans

The umbrella body brings together eleven Pacific countries, including Australia, Canada, Chile, Japan, Mexico, and Vietnam. Britain pushes to join global trading group one year after Brexit. Negotiations between London and CPTPP partners are expected to start this year, the ministry said.

“One year after our departure from the EU, we are forging new partnerships that will bring enormous economic benefits for the people of Britain,” said UK Prime Minister Johnson.

“Applying to be the first new country to join the CPTPP demonstrates our ambition to do business on the best terms with our friends and partners all over the world and be an enthusiastic champion of global free trade,” he said.

On her part, UK’s International Trade Minister Liz Truss said that Adherence to the treaty will provide “great opportunities,” for the UK.

“Joining CPTPP will create enormous opportunities for UK businesses that simply weren’t there as part of the EU and deepen our ties with some of the fastest-growing markets in the world,” said Truss.

“It will mean lower tariffs for car manufacturers and whisky producers, and better access for our brilliant services providers, delivering quality jobs and greater prosperity for people here at home. We’re at the front of the queue and look forward to starting formal negotiations in the coming months,” she said.

Unlike the European Union, joining this group of “fast growing” countries would be “unconditional”, Truss pointed out to Sky News. She elaborated that the move would enable the UK to have controls over it’s borders, and that it won’t have to contribute financially”.

CPTPP was launched in 2019 to remove trade barriers between its eleven countries, which represent around 500 million consumers in the Asia-Pacific region.

Its aim is also to combat China’s growing economic influence.

The international cargo terminal at the port in Tokyo

This partnership is the new version of the Trans-Pacific Free Trade Duck (TPP) that was abandoned by now former US President Donald Trump.

The decision comes a year after the UK officially left the European Union, after a turbulent 47-year relationship.

London had a transition period until 31 December 2020, during which the British continued to apply EU rules before leaving the single market and the European customs union.

In late December, a free trade agreement was reached, after arduous negotiations, between London and Brussels to regulate their relations after the historic rupture.

Earlier last October, London signed its first major post-Brexit bilateral trade agreement with Japan.

And in December, it signed another free trade agreement, this time with Singapore, an important financial platform and member of ASEAN (Association of Southeast Asian Nations) and CPTPP.

Vincent Ferdinand

News reporting is my thing. My view of what is happening in our world is colored by my love of history and how the past influences events taking place in the present time.  I like reading politics and writing articles. It was said by Geoffrey C. Ward, "Journalism is merely history's first draft." Everyone who writes about what is happening today is indeed, writing a small part of our history.

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