UK signs CPTPP Trade Bloc Agreement
On 16th July, 2023, the United Kingdom (UK) officially signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade bloc.
- With the UK as a member, CPTPP will have a combined GDP of GBP 12 trillion, accounting for 15% of global GDP.
- British goods, including whisky and cars, are expected to gain access to new trans-Pacific markets with 99% of current UK exports eligible for zero tariffs.
- The CPTPP is a landmark pact agreed upon in 2018 that cuts trade barriers among 11 countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
- The pact requires countries to ....
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