London joins the Trans-Pacific Trade Agreement

The UK sealed its biggest trade deal since Brexit yesterday. After twenty-one months of negotiations, joining the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), “Puts the UK at the center of a dynamic and growing group of Pacific economies”, British Prime Minister Rishi Sunak said on Friday. The free trade agreement, which has so far brought together eleven countries in Asia and the Americas (Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam), now represents 15% of global GDP. For Rishi Sunak, joining this covenant proves “The real economic benefits of post-Brexit independence”.

The United Kingdom is the first new member to join this partnership, which was finalized in 2018. Since leaving the EU in 2020, London has sought to establish trade links by turning to geographically distant but fast-growing economies.