One year after the divorce with the EU, Britain announced plans to join one of the world’s largest free trade agreements. Known as the CPTPP, the deal includes 11 developed and emerging economies around the Pacific Rim.
The British government announced on Sunday its intention to formally apply to become a part of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). UK International Trade Secretary Liz Truss will discuss Britain’s intention with ministers in Japan and New Zealand, which are parties to the pact, on Monday, while formal talks are set to start this year.
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The trade pact stems from the Trans-Pacific Partnership agreement, talks of which were abandoned by the US. CPTPP members include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam, which together account for about 13 percent the world’s income. (RT)
