UK Formally 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.
Key Points
- Ratification Process: The UK will now seek Parliamentary scrutiny and ratification from CPTPP member countries to admit Britain into the trade bloc.
- First European Member: The UK will be the first European member and first new member since CPTPP's creation, emphasizing its independent trading status after leaving the EU.
- Combined GDP and Global Impact: With the UK as a member, CPTPP will have a combined GDP of GBP 12 trillion, accounting for 15% of global GDP.
- Benefits for UK Exports: ....
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