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The UK will apply to join a free trade area with 11 Asia and Pacific nations on Monday, a year after it officially left the EU.

Joining the group of “fast-growing nations” will boost UK exports, the government says.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership – or CPTPP – covers a market of around 500 million people …

Members include Australia, Canada, Japan and New Zealand.

Brunei, Chile, Malaysia, Mexico, Peru, Singapore and Vietnam are also founder members of the bloc, which was established in 2018.

“In future it’s going to be Asia-Pacific countries in particular where the big markets are, where growing middle-class markets are, for British products,” International Trade Secretary Liz Truss told the BBC’s Andrew Marr.

It rather stretches the definition of Pacific, but Liz Truss has been a very effective Secretary of State. The CPTTP is the third-largest trading area. A key advantage is that Vietnamese judges will not be supreme over British courts. I hope we get even more decent grub out of it. I love my Asian food.

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10 thoughts on “THE HORIZON BECKONS

  1. The EUBBC wouldn’t resist a dig on this.

    Ben Brown: Some people might say, why have we let the EU to join another big global trading block?

    Dharshini David: One that’s thousands of miles away when we’ve only just shaken off the dust from the one next door.

    Neglecting (of course) to note that as ever, the BBC hacks avoid the elephant in the room. Had the EEC remained a trading bloc, then very few in the UK would have voted to Leave. But the fact is…….. it didn’t. It morphed into the present day political entity that is the EU, which 17.4+ million of us voted to Leave in 2016.

  2. This is the same TPP that Trump opted out of, so unwisely?

    Maybe the US should join it now.

    Would be good for us, and and a check on China

  3. If the world is condemned to be one broken into trade blocs, that would be a very good one, especially if the US and most English speaking nations were in it

  4. Still doesn’t remotely compare with leaving the worlds biggest most successful economically beneficial genuine single market.

  5. I’m not joking. The creation of the European single market is the biggest economic success story since WW2. The. Individual budgetary problems of certain countries is a seperate matter from the wider economic opportunities the single market created for all European companies and individuals and this that want access to that market. It made no sense at all being a massive part of its creation as the U.K. was, for decades and then wastefully walking away from it and all it’s benefits.

  6. //Greece, Spain, Italy! They’re all broke mate.//

    A case could be made for that nonsense if it could be shown that the economies and wealth of these countries would today have been running at a lower level had they never joined the EU.
    Compare with some countries whose governments may agree with Mark B. Is Bosnia wealthier than Italy, Albania wealthier than Greece? Is the Serbian economy really stronger than the economies of Slovenia or Croatia?

    Mark?

  7. I’ve just checked the GDP history of Greece (and remember Greece is by far the worst performing EU country)
    In the years before it joined the EU it was recording per capita GDP at around 3,800 USD.
    Compare with 2015, which was by far the worst year for economic contraction seen in Greece in half a century – GDP even for that terrible year was over 18,000.
    The year after the financial crises, GDP was around 30,000. Slightly less than 10 times the figure from the time before joining.

    The economy of Norway grew 5-fold in the same period. So EU Greece performed, from a lower base, either proportionally better or more or less the same as Norway (with its constant flow of liquid gold) did.
    non-EU Switzerland’s output over the same period was slightly less than Norway’s, growing by just under 400%.

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