The British government signs this Sunday in New Zealand his adherence to FTA trans-Pacific, claimed as a key agreement made possible by the Brexitalthough with results that are announced for the moment uncertain.
United Kingdom It will thus become the first European country in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)which will henceforth have twelve members and one GDP of 12 trillion pounds sterling (15.7 trillion dollars), indicated a statement from the British Ministry of Commerce.
The bloc, with 500 million inhabitants, represents 15% of world GDP. The agreement should enter into force in the second half of 2024, after its parliamentary approval.
Up to now, the CPTPP is made up of eleven countries of the Asia-Pacific region: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
Their formation was seen as an attempt to counter the growing influence of China in the region, although beijing submitted its candidacy for membership.
USA was initially part of the group, but withdrew in 2017, even before its entry into force, during the presidency of donald trump.
The British Trade Minister, Kemi Badenoch, said in the statement that this pact will give “a great boost to British companies.”
Since United Kingdom came out of the European Union (EU) and the European single market, at the beginning of 2021, multiplies contacts to make other agreements aimed at boosting their commercial exchanges.
“This agreement demonstrates the real economic benefits of our post-Brexit freedoms”British Prime Minister Rishi Sunak said when the conclusion of the deal was announced in March.
At that time, the government estimated that the implementation of the agreement would contribute 1.8 billion pounds (2.35 billion dollars) to the British economy.
In a document published in June, the government estimated that the increase would represent 0.08% of the British GDP.
(With information from AFP)
Source: Gestion
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