Britain Becomes First European Nation to Join Pacific Trade Bloc

London, United Kingdom — December 15, 2024 — In a historic move, the United Kingdom has officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), becoming the first European nation to do so. The decision marks a significant milestone in Britain’s post-Brexit trade strategy and its efforts to strengthen economic ties with the Pacific region.
The CPTPP, a trade pact between 11 countries that includes Japan, Canada, Australia, and several Southeast Asian nations, is one of the world’s largest and most dynamic trading blocs, accounting for about 13.4% of the global economy. Britain’s accession to the bloc is seen as a major step in diversifying its trade relationships following its departure from the European Union.
The UK’s decision to join the CPTPP is part of a broader effort to forge new trade deals and reduce its dependence on the European Union following Brexit. Prime Minister Rishi Sunak, in a statement following the announcement, described the UK’s accession as “a defining moment for global Britain.”
“Joining the CPTPP is a sign of our commitment to deepening our ties with the fastest-growing economies in the world,” Sunak said. “This agreement will create new opportunities for British businesses, expand our global influence, and pave the way for future trade agreements across the Pacific and beyond.”
The move is part of the UK’s strategy to “pivot” towards the Indo-Pacific, a region that is expected to be central to global economic growth in the coming decades. By Britain’s post-Brexit, Britain aims to increase its access to key markets in Asia and the Pacific, positioning itself as a gateway for trade between Europe and the Pacific Rim.
Britain’s accession to the CPTPP is expected to unlock significant trade opportunities. The agreement covers a range of sectors, including agriculture, manufacturing, digital trade, and services. The UK is set to benefit from reduced tariffs, easier market access, and stronger protections for intellectual property. This is particularly important for British businesses that are looking to expand their presence in fast-growing markets like Japan, Vietnam, and Malaysia.
In particular, British exporters in industries like financial services, pharmaceuticals, and technology are expected to see tangible benefits from the agreement. The digital trade provisions of the CPTPP will also help the UK strengthen its position as a global leader in tech and innovation.
“This agreement opens up access to markets in Asia and the Pacific, and it’s a win-win for British businesses,” said Trade Secretary Kemi Badenoch. “By being part of the CPTPP, the UK is now better positioned to capitalize on the opportunities of the 21st-century economy.”
The UK’s entry into the CPTPP has been welcomed by several member countries, who see Britain’s membership as a positive addition to the bloc. Japan, which has been one of the leading advocates for the expansion of the agreement, hailed Britain’s inclusion as a “significant step” in strengthening the economic ties between Europe and the Pacific.
“We are excited to welcome the UK to the CPTPP,” said Japanese Prime Minister Fumio Kishida. “The UK’s accession will bring fresh perspectives and open new avenues for cooperation in key sectors like technology, energy, and finance. This agreement represents a strong commitment to free and open trade in the region.”
Other countries in the bloc, such as Canada and Australia, have also expressed support for the UK’s membership, citing the shared values and goals of the CPTPP countries.
Despite the general optimism, Britain’s accession has faced some criticism, both domestically and internationally. Some critics argue that the agreement could undermine the UK’s commitments to environmental standards, labor rights, and other social issues, as some CPTPP countries have been criticized for their record on these matters.
Environmental groups, for example, have raised concerns that the CPTPP’s focus on trade liberalization could lead to weaker environmental protections, particularly in countries with less stringent regulations. The UK government has sought to address these concerns by emphasizing that it will work to ensure that environmental standards remain a priority in the CPTPP framework.
“There are legitimate concerns that need to be addressed, and we will ensure that the UK’s high standards on environmental protection and human rights are upheld as we move forward,” said Trade Secretary Badenoch. “The UK is committed to ensuring that trade deals benefit not just businesses, but people and the planet.”
Britain’s historic move to join the CPTPP is expected to have far-reaching implications for its global standing and economic future. By strengthening its position in the Pacific and building stronger trade links with some of the world’s fastest-growing economies, the UK is aiming to redefine its role on the world stage after leaving the European Union.
The UK is also eyeing potential future agreements with other countries in the region, including China, South Korea, and Indonesia. This could further expand Britain’s footprint in the global economy and enhance its influence in key sectors like trade, technology, and innovation.
As Britain steps into this new phase of its post-Brexit journey, the full impact of its CPTPP membership will unfold over the coming years. However, the UK’s successful integration into this influential trade bloc signals a bold and ambitious new direction for the nation’s economic and geopolitical future.