UK secures full access to £13 trillion CPTPP trading bloc
As of Tuesday 1 September, UK businesses now have full access to the £13 trillion CPTPP trading bloc
- UK businesses now have complete access to the CPTPP trading bloc, with economies worth almost £13 trillion in combined GDP with the UK included.
- From food and drink exporters to service providers, UK businesses can now take advantage of the full benefits of CPTPP membership.
- New opportunities with Canada include enhanced business mobility and greater access to public procurement.
British businesses can now access the full benefits of the UK’s membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The UK signed the CPTPP in 2023, and it entered into force in 2024 with the first countries that had ratified.
Canada is the final country to have ratified our accession, so from today (1 September) businesses have access to all 11 CPTPP member countries, with economies worth almost £10 trillion in 2025.
The agreement is expected to deliver around £2 billion a year to the UK economy in the long run.
This is a significant milestone for British businesses, giving them greater opportunities to export across the globe thanks to improved market access and fewer barriers to doing business overseas.
Minister for Trade Anas Sarwar said:
"With full access to the CPTPP, there are now new opportunities for British businesses across some of the world’s fastest-growing markets.
"Whether it’s selling our world-class food and drink or winning public contracts, we will continue to back British business to succeed across the world, driving growth and creating jobs across the country."
UK businesses operating in Canada will benefit from easier travel arrangements under CPTPP, with eligible business visitors now able to stay for up to six months, compared with the previous limit of 90 days in any six-month period.
The Chancellor also met with Canadian Finance Minister François-Philippe Champagne at the G20 Finance Ministers and Central Bank Governors summit in North Carolina USA, where they welcomed the UK’s accession to the CPTPP.
Chancellor of the Exchequer John Healey said:
"We want good growth felt in every postcode, not just measured on a graph.
"Full access to this trading block opens the door to new customers, contracts and investment for British businesses. We are backing UK firms to take full advantage of these opportunities, so they can boost their exports and help drive growth and well-paid jobs everywhere."
The agreement will provide businesses in both countries enhanced access to each other’s public procurement markets that were not covered under previous agreements.
This creates new opportunities for UK suppliers of goods and services, expanding access in sectors such as air transport, accounting and financial services.
By being able to access a broader range of commercial opportunities, businesses can expand and grow to showcase the talent we have here in the UK and help drive growth in every postcode.
Businesses have already been benefitting from the CPTPP, with agri-tech firm EmTech taking advantage of expanded business mobility to export its products to member countries.
Ken Baker, Managing Director, EmTech Hatchery Systems said:
"The CPTPP’s business mobility benefits have already benefitted EmTech’s export activity, particularly in Peru and Mexico where we have already exported our innovative technology.
"We have also exported our products to Canada and are hopeful that the UK’s full accession to the CPTPP will create further opportunities in this market for growth in the future."
Over 99% of our current goods exports to CPTPP member countries will be eligible for zero tariffs, improving goods market access for British firms.
Consumers and businesses can benefit from better choice, with cheaper import prices for high-quality goods like fruit juices from Chile and Peru and chocolate from Mexico.
The Government will continue to work closely with businesses to help them make the most of the opportunities created by this deal and drive economic growth in every postcode.
From: Department for Business, Innovation, Science and Trade and Anas Sarwar