United Kingdom looking to join TPP after Brexit — FT

United Kingdom looking to join TPP after Brexit — FT

BRITAIN has already held an informal summit on joining the flagship Trans-Pacific Partnership in a bold move to put rocket boosters on exports post Brexit. Trade minister Greg Hands explained to the Financial Times, who insisted the trading group had no geographic requirements to enter it.

But the remaining 11 members - Canada, Australia, Chile, New Zealand, Brunei, Singapore, Japan, Malaysia, Mexico, Peru and Vietnam - have pressed on and are working towards ratifying an agreement which does not include the US. The 11 signatories, also including Japan, last November reached a broad accord on a revised TPP deal.

The prospect of Britain joining the distant trade group could help revitalize TPP as well as bolster exports in the United Kingdom after Brexit, the report said.

The administration of British Prime Minister Theresa May hopes to conclude free trade agreements with many countries quickly after her country's exit from the European Union, set for March 2019.

TPP was signed in February 2016 but implementation was put on hold after Donald Trump withdrew U.S. participation in January 2017.

"With these kinds of plurilateral relationships, there doesn't have to be any geographical restriction", he said. -China free trade agreement, Fox said that both countries must first discuss where their "greatest mutual benefits" are.

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Fox is travelling to Beijing and Shenzhen on his first worldwide visit of 2018 to "advance the UK's trade and investment relationship", the Department for global Trade said on its website.

Combined spending from the TPP countries make up less than 8% of the UK's export market.

Barry Gardiner, the Shadow International Trade Secretary, said: "It is not the main event, and at the moment the government is making a hash of that".

Lib Dem Tim Farron said: "This plan smacks of desperation. It's all pie in the sky thinking".

But Labour criticised the interest in TPP and urged ministers to look closer to home and focus on the "key future trading agreement" with the EU. Michael Gove, the environment secretary, said in December that parliament would have an effective veto over any trade deal.

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