U.K. Looks to Strengthen Ties with Southeast Asia
Following its exit from the EU, the UK has been striving to develop partnerships with various countries from Southeast Asia. Come check out our article to learn more about the UK's efforts.
Following Brexit, the UK is looking for new opportunities around the world, and Asian countries are good options for strategic ties. Last month, it began talks to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which consists of eleven nations and represents half a billion people.
"Membership of the CPTTP free-trade partnership would open up unparalleled opportunities for British businesses and consumers in the fast-growing Indo-Pacific," Prime Minister Boris Johnson stated. Britain has identified technology, services, and finance as critical areas in trade agreements. The goal is to enable tariff-free trade for 99.9% of exports
Additionally, Britain is planning a "dialogue partnership" status with the Association of Southeast Asian Nations (ASEAN).
"The U.K. is committed to strengthening our friendship across the Indo-Pacific...We are demonstrating this through our commitment to join CPTPP, partner with ASEAN, and invest more energy, time, and effort in our bilateral relations in the region,” said Foreign Secretary Dominic Raab.
Strategic Considerations
The UK is pushing for trade agreements after it departed from the European Union (EU) in 2020. Another reason is a strategic tilt towards Southeast Asia in response to China's growing influence and economic power.
This plan from the UK comes timely because the ASEAN is also seeking alternatives to China as their primary capital and trading partner. A strategic agreement with Britain will make the region’s market lively and strengthen commercial links.
The European country also plans to mention other issues like the environment and the COVID-19 pandemic for which the ASEAN are working out solutions.
“Looking forward to discussing trade, security and tackling challenges such as climate change, COVID-19 and serious organized crime,” Foreign Secretary Dominic Raab tweeted from Hanoi.
Besides potential trade agreements, Britaindispatched a strike group led by the Royal Navy's flagship aircraft carrier on a half-year deployment to Asia earlier this year, signaling Britain’s determination to encourage the tie-up with Southeast Asia.
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