UK Moves to Final Phase of Joining CPTPP
Japan, serving as the chair of the U.K.'s Accession Working Group for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, announced that the U.K. has moved into the final phase of accession to the key trade pact, the U.K.'s Department for International Trade said. This "market access" phase involves the U.K. agreeing to new trading relationships with the CPTPP's 11 members, which would make it the first European country to join the trade pact.
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"CPTPP is one of the largest and most exciting free-trading clubs in the world," International Trade Secretary Anne-Marie Trevelyan said. "Today’s announcement is a major milestone for us joining this dynamic group of economies and means the finish line is in sight. I look forward to visiting Asia next week and flying the flag for Global Britain by holding valuable trade talks with key partners across the Indo-Pacific region and pushing to secure CPTPP accession by the end of the year. This is just one aspect of our Indo-Pacific strategy, which will benefit businesses and consumers across every part of the UK and help us to level up at home."