The UK has agreed to join trans-Pacific trade pact that includes Australia and Japan, in the biggest new trade deal Britain has struck since leaving the EU.
Britain strikes deal to join trans-Pacific trade pact
The UK has struck a deal to join an 11-country trans-Pacific trade pact that includes Japan and Australia as it looks to deepen ties in the region and build its global trade links after leaving the European Union.
Prime Minister Rishi Sunak said Britain had agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in a move his office said was the biggest trade deal since Brexit.
“Joining the CPTPP trade bloc puts the UK at the centre of a dynamic and growing group of Pacific economies,” Sunak said on Friday, adding the deal demonstrated “the real economic benefits of our post-Brexit freedoms”.
Britain has been looking to build global trade ties following its departure from the EU in 2020 and has looked to pivot toward geographically distant but fast-growing economies.