The Department for Trade’s announced the UK has moved into the second and final phase of accession to join the CPTPP free trade area, a move confirmed by Japan this morning. The £8.4 trillion trade bloc, hailed by Anne-Marie Trevelyan as “one of the largest and most exciting free-trading clubs in the world”, could be set to welcome the UK as a member by the end of the year, giving us access to the 11 current members’ markets. 99.9% of exports would become tariff-free…

Trevelyan hails the decision by Japan:

“CPTPP is one of the largest and most exciting free-trading clubs in the world. Today’s announcement is a major milestone for us joining this dynamic group of economies and means the finish line is in sight.   

“I look forward to visiting Asia next week and flying the flag for Global Britain by holding valuable trade talks with key partners across the Indo-Pacific region and pushing to secure CPTPP accession by the end of the year. This just one aspect of our Indo-Pacific strategy, which will benefit businesses and consumer across every part of the UK and help us to level up at home.” 

Yet another benefit of Brexit…