UK joins Asia-Pacific CPTPP trade bloc that includes Japan and Australia
The Guardian says Britain has joined the 11-member strong Asia-Pacific trade bloc that includes Japan and Australia after nearly two years of negotiations.
The deal, part of a push to agree worldwide trade deals after Brexit, secures access for British exporters to 500 million people in the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The agreement, secured after 21 months of talks, will allow exporters to “seize opportunities for new jobs, growth and innovation”, the government said.
Spanning Canada, Mexico, Japan, Australia, Vietnam and Malaysia, the CPTPP is expected to be ratified by the UK parliament and those of the other 11 member states later this year.