Britain wants to join Transpacific Trade Deal

After free trade agreements with Japan, Singapore and Vietnam, Great Britain now wants to enter into the CPTPP trade agreement as well. Prime Minister Boris Johnson has high expectations for himself and the people.

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A year after Brexit, Great Britain applied to join the Trans-Pacific Trade Agreement CPTPP. The British government had submitted a request for the participating states, writing to the Secretary of State responsible for international trade Liz Truss on Twitter on Monday.

The trade agreement brings together some of the “world’s fastest growing economies”. The accession will create “high quality jobs” in the UK.

Prime Minister Boris Johnson had already promised the British “huge economic benefits” from the agreement. Great Britain had already sealed the first major free trade agreement with Japan after Brexit in October. Agreements were reached with Singapore and Vietnam in December.

So far, eleven states belong to the CPTPP, which together represent 13.5 percent of global economic output. The free trade zone created in 2019 includes markets in Australia, Canada, Chile, Mexico and Japan. The CPTPP agreement was launched after the US withdrew from the Trans-Pacific Free Trade Agreement under then President Donald Trump.

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About the Author: Forrest Morton

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