The United Kingdom to enter the Trans-Pacific trade agreement
The countries that make up the free trade area of the Comprehensive and Progressive Treaty of Trans-Pacific Partnership approved to start negotiations with Great Britain for their entry into the group
The Free Trade Area Commission of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) made up of Japan, Canada, Australia, New Zealand, Singapore, Chile, Malaysia, Vietnam, Mexico, Peru and Brunei, confirmed the start of talks with the United Kingdom to join the Association.
In a virtual meeting led by the Japanese minister Yasutoshi Nishimura, the members welcomed the island nation of northwest Europe, after the request made last February and even a year after its departure from the European Union.
In a joint statement, the member countries published their decision, recognizing the extraordinary “potential for the expansion of international trade and investment rules in the 21st century beyond the Asia-Pacific region.”
The United Kingdom is an important commercial partner of Japan, so its incorporation into the group, in Nishimura’s opinion, would be of great importance for a “free and fair economic order.” For her part, Liz Truss, head of British International Trade, expressed his satisfaction with the “excellent news.”
Economic recovery
The Japanese minister has indicated that the world economy is paralyzed as a result of the Covid-19 pandemic, for which the CPTPP could play a fundamental role in the recovery and strengthening of the global economy, since it represents 13.4 % of the World GDP.
The United Kingdom has registered a trade surplus with the countries that make up the association in the first quarter of the year. Other nations such as South Korea, Taiwan, Thailand and China have also expressed their interest in being part of this free trade area.
Fuente: dpa
