UK formally signs up to CPTPP trading bloc as it looks beyond Europe for trade post-Brexit
- The CPTPP comprises fellow G7 members Canada and Japan, plus Australia and New Zealand, alongside Brunei, Chile, Malaysia, Mexico, Peru, Singapore and Vietnam
- The trade bloc has been seen as a bulwark against Chinese dominance in the region, although Beijing has applied to join
The UK government on Sunday announced it had formally signed a treaty to join a major Indo-Pacific bloc, as it looks beyond Europe for trading opportunities post-Brexit.
Business and Trade Secretary Kemi Badenoch signed the accession protocol for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in New Zealand.
It makes the United Kingdom the first new member and first European nation to join the bloc since it was created in 2018.
The United Kingdom has come through the robust accession process and the overall quality of its commitments has set a good precedent for future economies that wish to join,” New Zealand Trade and Export Growth Minister Damien O’Connor said in a statement.
The CPTPP comprises fellow G7 members Canada and Japan, plus the UK’s long-standing allies Australia and New Zealand, alongside Brunei, Chile, Malaysia, Mexico, Peru, Singapore and Vietnam.
