Britain applies to join Pacific Free Trade Area

The UK is formally applying to join the CPTPP

shipping crates - photo by echosystem
shipping crates - photo by echosystem

International Trade Secretary Liz Truss will speak to ministers in Japan and New Zealand on Monday morning to request to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), with formal negotiations set to start later this year.

Joining the CPTPP would deepen the United Kingdom’s access to fast-growing markets and major economies, including Mexico, Malaysia and Vietnam, for the benefit of British business.

Joining the £9 trillion partnership will cut tariffs for our industries including food and drink, and cars, while also creating new opportunities for modern industries like tech and services, ultimately supporting and creating high-value jobs across the country. Unlike EU membership, joining the CPTPP does not require Parliament to cede control over our laws, borders, or money. It is simply a trade deal.

The Prime Minister, Boris Johnson 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.

“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.”

International Trade Secretary Liz Truss 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.

“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.”

This application to join one of the largest free-trading areas in the world with our Commonwealth partners and new trading partners will really help the United Kingdom bounce back. It shows we can stand alone from the EU as a free trading nation enjoying new goods, services and technologies.

If you are a British business considering trading abroad for the first time you can learn more about how to do it online at the Department for International Trade website.

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