Britain said it had struck a deal to join an 11-country trans-Pacific trade pact which includes Japan and Australia as it looks to deepen ties in the region and build its global trade links after leaving the European Union
Prime Minister Rishi Sunak said Britain had agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership , in a move his office said was the"Joining the CPTPP trade bloc puts the UK at the centre of a dynamic and growing group of Pacific economies," Sunak said in a statement, adding the deal demonstrated "the real economic benefits of our post-Brexit freedoms.
Membership will supplement existing bilateral Free Trade Agreements Britain has with most of the member countries, and gives businesses extra options over the terms they can trade under.. Britain said the deal, which will cut tariffs on cars, spirits and dairy products, would boost the economy by 1.8 billion pounds each year in the long-run - a figure that could rise as more countries join the pact.
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