The United Kingdom has entered into formal negotiations to join the Comprehensive and Advanced Trans-Pacific Partnership (CPTPP). This is a key element in changing trade priorities after Brexit.
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As the London government argues, membership in the CPTPP would make it easier for British companies to access the world’s largest current and future economies, but critics point out that the gains from joining this free trade area will not offset the resulting economic losses. from departure. European Union.
CPTPP consists of 11 countries in the Pacific region: Australia, Brunei, Chile, Japan, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, with a population of about 500 million. Its GDP is $12.5 trillion, accounting for 13% of the global economy الاقتصاد. If you join them United kingdomThis percentage will increase to 16 percent.
The possibility of farming
“We left the EU with a promise to deepen our relationship with long-standing allies and fast-growing consumer markets outside Europe, and joining the high-profile Trans-Pacific Partnership is an important part of this vision. Organic will help our farmers, innovators, and innovators sell produce to some of the biggest economies of today and tomorrow, but without giving It’s about controlling our rights, our limits or our money. That’s a great reward so far Brixia“We want us to use it,” British International Trade Secretary Liz Truss said.
The UK government has announced that by joining the CPTPP, exports to these countries will increase by 65% by 2030 – by £37 billion, and these benefits may increase over time, such as the Philippines, South Korea, Thailand and Taiwan. Do you want to join the contract?
But since the UK already has trade agreements with eight of the 11 CPTPP members, its membership in the FTA will not translate into significant economic benefits. According to the calculations of the Ministry of International Trade itself As a result of membership, UK GDP will increase by £1.8 billion over 15 years or 0.08%.
While it is noted that if South Korea and Thailand join the CPTPP, the increase will be 5.5 billion pounds, and there is a consistent model that does not take into account the potential growth of other variables, this is still less than the estimated loss gains due to Brexit. According to estimates, the gross domestic product of Great Britain will reach 4 percent. In 15 years. Less than it would have been if the UK had stayed in the EU.
# Comprehensive and Progressive Agreement for the Trans-Pacific Partnership