“There are few multi-national trade agreements like this one. The UK’s addition to this bloc will open up new opportunities for both inward and outward investment.
“Trade rules will be more favourable for manufacturers looking to sell products to other member countries and data transfers for firms in the services sector will also be more straightforward.
“Crucially, it will also give the UK a say in the bloc’s future development, making it a deal that will work for our traders both now and in the future.”
“We see today’s announced progress towards the UK joining CPTPP as a positive step in the right direction. Being ‘on the ground’, we see every day how vibrant and alive with opportunity the British business community is within Southeast Asia, and we look forward to championing the UK’s interests alongside our colleagues throughout the CPTPP trading bloc.”
“The UK’s ratification of the CPTPP signifies an important achievement for the business world, presenting a valuable opportunity for the UK, Japan, and the other 11 member countries to come together in setting the benchmarks for global trade standards. We look forward to the avenues for fresh opportunities and collaborations this will unlock, paving the way for enhanced economic partnerships and growth opportunities for our members in the UK-Japan, and wider regional ecosystem.”
“Our Chamber welcomes news of the UK’s ratification of the CPTPP. With its respected position in global affairs, the UK is a valuable addition to this very important partnership in our region. We look forward to the strengthening ties of CPTPP members in trade, investment and in regional security.”
“The ratification of the CPTPP is a pivotal milestone as it symbolises the first free trade agreement between the UK and Malaysia. This historic agreement not only fosters trade liberalisation but also offers expanded market access, boosts to GDP, and strategic influence, particularly benefiting sectors such as services and digital trade for both British and Malaysian enterprises. This also promises enhanced options and affordability for consumers and businesses alike, heralding a new era of economic dynamism and collaboration.”
“The Parliamentary ratification of the UK joining CPTPP is another major step towards deepening the UK’s access to a group of countries that represent one of the most dynamic and rapidly growing free trade areas in the world. We look forward to helping businesses take advantage of the Agreement’s entry into force later this year.”
More detail on the UK’s ratification of CPTPP can be found here.
Read more latest news from the BCC here.
