UK applying to join Asia-Pacific free trade pact

In March 2018, a free trade agreement known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was signed between 11 countries, including world powers like China and Japan. This signing materialized the creation of the largest free trade area in the world, with its member countries representing nearly 13.5% of the world's GDP and 500 million potential consumers. The opportunities offered by the agreement have led many countries wishing to become a part of it, with the UK being one of them. According to Liz Truss, the Secretary of State for International Trade, “In future it's going to be Asia-Pacific countries in particular where the big markets are, where growing middle-class markets are, for British products...Joining the bloc would reduce tariffs on UK exports such as whisky and cars, as well as service industries.”

Indeed, in February 2021, a month after Brexit, the UK announced its intention to join the CPTPP, becoming the first country to officially apply to join the partnership. While this request may have initially been surprising, it was not illogical. Since leaving the European Union (EU), the UK needed to strengthen its trade links with other nations. The fact that the country was no longer subject to the union's rules also made it easier to apply.

However, this decision was not met with unanimity. Some feared this would lead to an invasion of the British market by Chinese products, endangering the local market. This is a legitimate concern since the CPTPP is also viewed by many as China's way of expanding its influence in the region and enforcing its own rules. Thus, many are hoping that the individual quarrels between countries will not be transposed onto this new agreement because if that happens, the CPTPP will become counterproductive for all the members.

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