The 11 members of a transpacific trade agreementThe United Kingdom, which includes Peru and Chile, would soon reach a broad agreement with Britain on joining the pact, two sources familiar with the matter told Reuters on Wednesday.
An announcement is expected to be made soon, added the sources, who declined to be identified because the information has not been made public.
Britain said negotiations on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) had gone well. Prime Minister’s spokesman Rishi Sunak said the ministers should discuss the CPTPP with their counterparts later this week and that there would be an update on the “first chance possible”.
After leaving the European Union, the United Kingdom has tried to strengthen commercial ties on a global scale, and in June 2021 began negotiations to join the CPTPPin an attempt to pivot towards geographically distant but fast-growing economies, especially in the Indo-Pacific.
Other members of the group are Brunei, Canada, Japan, Malaysia, Mexico, New Zealand, Australia, Singapore, and Vietnam.
The accession will complement the bilateral trade agreements that the United Kingdom maintains with several of the member countries, with the general objective of further cutting tariffs on goods and reducing barriers to services and digital trade.
“We are making great progress in the UK’s accession to CPTPPand our goal is to conclude the talks as soon as possible”, declared a spokesman for the British Ministry of Trade and Enterprise.
“The Government is working to ensure the UK adheres on terms that work for UK businesses and are in line with national priorities.”
Source: Reuters
Source: Gestion
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