UK Joins Indo-Pacific Trade Bloc (CPTPP)

On December 15, 2024, the UK became the first European country to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

What is CPTPP?

  • A trade bloc of 11 countries: Japan, Australia, Vietnam, Canada, Mexico, etc.
  • Formed after the US withdrew from the original Trans-Pacific Partnership (TPP) in 2016.
  • Represents 15% of global GDP, focusing on trade in Asia-Pacific.

Economic Benefits for the UK

  • Part of the post-Brexit strategy to diversify trade ties.
  • Estimated to add £2 billion/year to the UK economy.
  • Gains in financial services, manufacturing, and food exports.
  • Lower tariffs, easier access to growing Indo-Pacific ....
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