UK to Join Indo-Pacific Trade Bloc in Major Post-Brexit Pact
- CPTPP will be worth 15% of global GDP after UK joins
- Membership marks UK shift from Europe to Indo-Pacific
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The UK will join an 11-nation Indo-Pacific free-trade bloc, becoming the first new member since its creation, in a bid to strengthen economic ties with new partners following divorce from the European Union.
Prime Minister Rishi Sunak’s government sees membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which includes Australia, Japan and Canada, as a boost for economic growth and geopolitical relations. The UK expects growth of £1.8 billion ($2.23 billion) each year over the long-term, a figure that could rise if other countries join the bloc.