UK accepted into Indo-Pacific trade bloc in biggest trade deal since Brexit
Sky News says The UK has been accepted into an Indo-Pacific trade bloc in what the government says is its biggest trade deal since Brexit.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement between 11 countries across the Indo-Pacific, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam – and now the UK.
The partnership sees the countries open up their markets to one another, reducing trade barriers and tariffs, with the hope of bolstering the economies of its members.
Trade Secretary Kemi Badenoch said the UK’s accession to the CPTPP was formally confirmed in a telephone call between her and counterparts from the group at 1am BST on Friday.
