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On 1 February 2021, the UK Government formally applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). CPTPP is a free trade agreement between 11 countries around the Pacific Rim. CPTPP members are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The agreement is in force in seven of these countries: Australia, Canada, Japan, Mexico, New Zealand, Singapore and Vietnam. The Government believes accession will bring economic and geo-political benefits for the UK. Negotiations are expected to start in the Spring.

In 2019, UK exports of goods and services to CPTPP countries amounted to £58 billion (8.4% of all UK exports). Imports were £53 billion (7.3% of the UK total). Of the CPTPP countries, Australia, Canada, Japan and Singapore are the largest UK trading partners. These four countries accounted for around 80% of UK trade with the CPTPP countries in 2019.

The UK already has trade agreements with seven CPTPP members and is in the process of negotiating free trade agreements with Australia and New Zealand.


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