UK accession to CPTPP will create greater collaboration opportunities
Trade Commissioner for Asia-Pac Natalie Black says pact reflects the UK's ambition for high standards in a wide range of areas
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Angela Tan
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THE United Kingdom's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) could see practically all of UK exports eligible for tariff-free trade with member states, which in turn would benefit from the lower cost of UK goods and lower tariffs for exports to the UK, a market of 66 million consumers, a top official says.
Comprising Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, the CPTPP is an 11-nation mega trade pact formed in 2018 after former US president Donald Trump pulled the United States out of the Trans-Pacific Partnership (TPP) a year earlier.
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