Liz Truss said that joining the partnership would “shift our economic centre of gravity away from Europe towards faster-growing parts of the world”Britain is to begin the process of joining a Pacific trading bloc in what would be a significant post-Brexit boost after trade with the European Union dropped. The UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) would create a trading area almost the size of the EU, the Japanese economic minister said. SponsoredOn Wednesday night the 11-member CPTPP agreed that Britain could begin formal talks with a view to joining the bloc, which removes tariffs on 95 per cent of goods. The union comprises Japan, this year’s chair, Canada, Australia, Mexico, Singapore, New Zealand, Malaysia, Chile, Vietnam, Peru and Brunei. These countries are home to about 500 million people and accounted for £110 billion worth of trade with the UK

Source: The Times June 02, 2021 11:04 UTC