The UK hopes to join the 11-nation trans-Pacific trading bloc known as CPTPP or TPP11 in the near future as it seeks to expand its trade ties with the rest of the world after leaving the European Union, Business and Trade Secretary Kemi Badenoch said.
“We seek to join imminentlyhe recently said Badenoch to the House of Commons. “We have reached a great stage in the negotiations“and in time we will have”good news”.
Since he left the EU For three years now, the UK’s Conservative government has tried to negotiate a series of new trade deals to deliver on what it calls the benefits of Brexit.
Yes ok Britain already has bilateral agreements with more than half of the 11 members of the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), joining the pact will further grease the wheels of trade with a bloc of nations that account for around 13% of global economic output.
After the opposition Labor Party warned of weakening standards in areas such as pesticide residues, Badenoch said the UK is working to protect its food standards in the final stages of talks to join the CPTPP.
There is also concern that Britain it will relax Malaysia’s palm oil import tariffs in exchange for joining the pact.
Source: Gestion
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