`Joining CPTPP will create huge opportunities for British businesses, which are no longer part of the European Union (EU), and deepen our relationships with a number of developed markets.
British Trade Minister Liz Truss holds documents to join CPTPP on January 30.
CPTPP was signed in 2018, effective for Vietnam from the beginning of 2019. The agreement includes 11 member countries Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Singapore, New Zealand, Peru and Vietnam.
The UK has been studying the possibility of joining CPTPP since early 2018, to stimulate exports after Brexit.
`Joining CPTPP means lower tariffs for car and whiskey manufacturers, and better access for our elite service providers, delivering quality jobs and prosperity
If approved, Britain would become the first country to join CPTPP, also known as TPP-11, since former president Donald Trump withdrew the US from the agreement in 2017, leaving the group with only 11 members.
`Applying to become the first new country to join CPTPP demonstrates our ambition to do business on the best terms with friends and partners around the world, and to be an enthusiastic supporter of
The British Ministry of Trade announced that Ms. Truss will discuss with Japanese Minister on TPP-11 and Chairman of the TPP-11 Committee in 2021 Yasutoshi Nishimura, and Damien O’Connor, Minister of Trade and Development of New Zealand, where
The current 11 members are expected to welcome Britain in, but negotiations may `not be concluded in just a few months`.
China, South Korea and Thailand also expressed their desire to join the partnership.
