A month after leaving the European single market, in the wake of Brexit, the United Kingdom will apply for membership of the trans-Pacific free trade agreement - the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) -, the ministry announced on Saturday. British International Trade in a statement.
British International Trade Minister Liz Truss will officially request the United Kingdom's accession to the Trans-Pacific Free Trade Agreement - the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), which brings together eleven Pacific countries including the Australia, Canada, Chile, Japan, Mexico and Vietnam.
Negotiations between London and CPTPP partners are expected to begin this year, the UK Department for International Trade said in a statement.
"New partnerships" after Brexit
A year after London left the European Union, "we are forging new partnerships which will bring enormous economic benefits to the people of the United Kingdom", reacted British Prime Minister Boris Johnson.
"Applying to become the first new country to join the CPTPP proves our ambition to do business under the best conditions with our friends and partners all over the world and to be a fervent champion of global free trade," he said. he adds.
Joining the treaty will provide "huge opportunities," said Liz Truss, "it will mean lower tariffs for automakers and whiskey producers and better access for our excellent service providers, creating quality jobs and greater prosperity for the people here ".
New version of the TPP
The CPTPP was launched in 2019 to remove trade barriers between its eleven countries, which represent nearly 500 million consumers in the Asia-Pacific region.
Its objective is also to counter the growing economic influence of China.
This Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) is the new version of the Trans-Pacific Free Trade Pact (TPP) that was abandoned by Donald Trump.