United Kingdom became the first European nation to join the CPTPP

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement (FTA) between 11 economies in the Asia-Pacific region, including New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Viet Nam.

On December 15, 2024, the United Kingdom became the first European nation to join the CPTPP, officially becoming the trade bloc's 12th member.

The UK applied in February 2021, and then officially signed the Agreement to become a CPTPP member on July 16, 2023, which increase the total number of members of the CPTPP to 12.

The CPTPP trade area is vast. Spanning the Pacific rim from Malaysia to Chile, CPTPP countries are home to 500 million people, 13% of global GDP (15% with the UK included) and already account for £110 billion of UK trade. Growth in recent years has averaged 8% annually and the government predicts UK exports to these countries will increase by 65% by 2030.

The UK government has said membership of CPTPP will “open up unparalleled opportunities for British businesses and consumers”.

United Kingdom became the first European nation to join the CPTPP
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(Source: VNA)