MP: CPTPP will boost the economy and create jobs across the UK
This morning it was announced that, after 21 months of negotiations, the UK will be joining the Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP). This will see the UK joining a trading bloc worth £11 trillion and with a population of 500 million. CPTPP reduces trade barriers, cuts tariffs and increases Britain’s market share to some of the world’s largest and fastest-growing markets. In due course more than 99% of goods exports will be eligible for zero tariffs under the agreement, including Scotch whisky.
John said,
“This is terrific news, and I congratulate the Prime Minister and Trade Secretary on this far-reaching achievement. Joining CPTPP will boost the economy by removing trade barriers and cutting tariffs on trade with large and growing economies, and will support jobs and create opportunities across the four nations of the UK. At the same time, our high standards across healthcare, employment rights, the environment, animal welfare and food standards are all protected.”
“Joining CPTPP would not be possible as a member of the EU, and it firmly announces Britain’s return to the world stage as an independent actor. It allows us to have a seat at the table at one of the youngest and most dynamic trading blocs, giving us opportunities while enabling us to protect our interests against countries like China. If the United States also joins the bloc, then we will in effect have a trade deal with Washington, and many other countries are also considering following our path.”
