Britain Joins Trans-Pacific Trade Pact

Britain has become the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), marking its largest trade agreement since Brexit. The pact involves nations such as Japan, Australia, and Canada, and aims to establish significant trade links outside the European Union.

In a strategic move post-Brexit, Britain has officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), becoming the 12th member of the influential trade pact. The agreement, which includes prominent economies like Japan, Australia, and Canada, is Britain's largest trade deal since its departure from the European Union.

Starting Sunday, Britain will apply CPTPP trade rules and benefit from reduced tariffs with eight existing members, enhancing trade relations with nations including Brunei, Chile, and Vietnam. The agreement is set to come into effect with Australia on December 24, while awaiting ratification from Canada and Mexico.

This move signifies more than just economic gains—estimated at £2 billion annually—as it strategically positions Britain to influence the membership of key applicants such as China and Taiwan. The CPTPP, initially connected to the U.S.-backed Trans-Pacific Partnership, aims to counterbalance China's growing economic influence in the region.

(With inputs from agencies.)