UK to join TIPAT in late 2022: Liz Truss

United kingdom will join the Comprehensive and Advance Treaty of the Trans-Pacific Partnership (shouting) At the end of 2022, that country’s Secretary of International Trade, Liz Truss, estimated.

First of all, in June 2021, the UK began negotiations to join TIPAT and reached a preliminary agreement for a Bilateral Free Trade Agreement (FTA) with AustraliaAfter signing free trade agreements with JapanAnd Singapore And Vietnam in the year 2020.

Earlier, in May 2021, the UK and India Announced a “2030 roadmap” to guide cooperation for a comprehensive strategic partnership, including an enhanced trade partnership and an intention to negotiate a free trade agreement.

According to Japanese media Nippon, since several CPTPP members have already signed bilateral trade agreements with the UK, “major hurdles” are not expected in the accession talks.

If the UK’s share is met, it will raise the bloc’s share of world economic output to 16% from the current 13%.

The British government submitted an application in February to join the CPTPP.

In fact, the UK is the number one candidate for membership from outside the original Associate Members.

very ChinaAnd South KoreaAnd Taiwan And Thailand They have expressed interest in joining the free trade bloc.

United kingdom

Nippon explained that the bloc, in force since 2018, currently has a population of about 500 million, exceeding the population of the European Union (448 million).

The agreement to create a Pacific Free Trade Area was originally promoted by the United States under Barack Obama’s administration in an effort to counterbalance China’s growing influence in the Asia-Pacific region.

But President Donald Trump, who has publicly expressed a preference for bilateral trade agreements rather than multilateral frameworks under the so-called “America First” policy, withdrew from the Trans-Pacific Partnership (which later became TIPAT) shortly after taking office in 2017.