The United Kingdom has struck a deal to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) after almost two years of “intense negotiations,” the British government said on March 31.
In a statement, the British government hailed the Asia-Pacific trade deal as the country’s “biggest trade deal since Brexit,” referring to the withdrawal of Britain from the European Union in 2020.
“The bloc is home to more 500 million people and will be worth 15 percent of global GDP [gross domestic product] once the UK joins,” it stated.
Britain said the CPTPP would help boost its economy by 1.8 billion pounds ($2.2 billion) “in the long run,” with wages expected to rise by 800 million pounds ($990 million) compared to 2019 levels….