Miles Celic, Chief Executive Officer, TheCityUK, said, “Being the first new member country to accede to such a strategically significant trade bloc is a great achievement for the UK. CPTPP members include many important growth markets for UK-based financial and related professional services, and membership gives British firms greater access to business opportunities in one of the fastest growing regions in the world.
“On formally becoming a CPTPP member, the UK will be able to work more closely with key Pacific Rim countries, including CPTPP members with which the UK currently has no bilateral Free Trade Agreement, such as Malaysia. Membership will open the way to developing pioneering approaches to digital trade, building regulatory cooperation and liberalising services trade. These are exciting growth areas for the 21st century and the benefits of membership will grow as more countries become CPTPP members.”