Brexit UK will today begin negotiations with the 11 member states of the Comprehensive and Progressive Agreement on the Trans-Pacific Partnership (CPTPP). Surgery UK Reports
Accession talks with coalition members are expected to continue after the UK applied to join the CPTPP earlier this year.
Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam are members of the CPTPP, accounting for 15% of world trade.
If the UK’s request is approved, the UK will become the second largest economy in the bloc and trade deals will be easier for British exporters abroad.
Analysts plan that joining the partnership could lead to a 99.9% tariff-free trade of all exports.
According to International Trade Secretary Ann Marie: “This is a major milestone in our path to joining the CPTPP, which has allowed us to build strong ties with old friends and some of the world’s fastest growing economies. will give.
“Joining this high-quality partnership will provide real opportunities for UK exporters and service providers and help our innovators open up new, diverse markets.
Taking advantage of such opportunities is exactly what the global UK is all about and will help bring high quality jobs and prosperity to every region of our country.
Joining the CPTPP is an important part of Prime Minister Boris Johnson’s conspiracy to advance British interests in the Indian Pacific.
With its member countries proud of their fast-growing markets, the UK will now expand its reach to the top 20 economies by 2050.
Negotiations will take place in practice and will begin on Tuesday morning.
Commerce Minister Penny Mordont is also expected to pay official visits to CPT member countries Chile and Peru.
According to the Department for International Trade, during her visit to South American countries, she will meet with Chilean Agriculture Minister Maria Emilia Andorraga, as well as her Peruvian counterpart Roberto Sanchez.
Speaking ahead of his visit, Mordont said: “Chile and Peru are important strategic trading partners for the UK, and I will use this visit to explore deeper trade and investment ties with both countries. ۔
“As we begin negotiations to join the CPTPP, there is no better time for British businesses to take advantage of the growing export opportunities in this dynamic part of the world.”
Mordaunt’s visit to South America will be his first overseas trip since he reshuffled his cabinet last week, including former trade secretary Liz Truss, who was promoted to a new role as foreign secretary.