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·         UK begins process to join Asia-Pacific trade bloc

·         Trans-Pacific trade partners agree for U.K. to start joining process



UK begins process to join Asia-Pacific trade bloc


BBC News (UK)

Jun 2, 2021


The 11-member Trans-Pacific Partnership trade bloc has agreed to open accession talks with the UK.


The British government, which asked to join the TPP in February, said membership was a huge opportunity in a post-Brexit world.


A working group is now expected to be set up to discuss tariffs and rules governing trade and investment.


The UK is not expected to join the TPP, which includes Australia, Mexico and Japan, until next year at the earliest.


International trade secretary Liz Truss said in a statement the decision to begin the accession process was "excellent news".


"It will help shift our economic centre of gravity away from Europe towards faster-growing parts of the world, and deepen our access to massive consumer markets in the Asia Pacific...





Trans-Pacific trade partners agree for U.K. to start joining process


By Reuters, GFM Network News

via Canadian Cattlemen - June 2, 2021


Tokyo | Reuters — Member nations of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Wednesday officially agreed to allow the United Kingdom to start the process of joining the pact, Japan’s economy minister said.


Japanese Economy Minister Yasutoshi Nishimura told reporters he welcomed the start of Britain’s joining process after hosting an online meeting of ministers from the 11 countries that make up the trans-Pacific trade pact.


“I think there’s a big meaning to this from a strategic viewpoint of strengthening economic relations between Japan and the United Kingdom,” Nishimura said.


The United Kingdom’s admission into CPTPP would bring the nominal gross domestic product of the zone covered by the pact almost on par with that of the European Union, he added.


“The commencement of an accession process with the United Kingdom and the potential expansion of the CPTPP will send a strong signal to our trading partners around the world,” the 11 member countries said in a statement...