UK set to boost trade with Brunei through CPTPP


United Kingdom International Trade Secretary Liz Truss. - BB

BANDAR SERI BEGAWAN (Borneo Bulletin/ANN): The United Kingdom (UK) is launching accession negotiations with CPTPP nations, pivoting Britain towards some of the world’s biggest economies of the present and future.

UK International Trade Secretary Liz Truss spoke with Minister for TPP Yasutoshi Nishimura from Japan, this year’s chair of CPTPP, to begin negotiations on the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), on Tuesday (June 22).

She said, “CPTPP already has a significant global presence, and our accession would send a powerful signal to the rest of the world that the UK, as an independent trading nation, will continue to champion free and fair trade, fight protectionism and slash tariffs at every opportunity.

“It will mean stronger trading links with the Indo-Pacific, which is vital to our goals for trade, investment, supply chains as well as supporting green growth, women’s economic empowerment and high standards for British workers.

“The launch of negotiations marks a huge milestone in our accession process, and I look forward to talks starting in the coming weeks.”

Joining CPTPP will boost UK trade with Brunei, opening up opportunities for UK and Bruneian businesses.

UK accession would remove tariffs on goods from both countries, supporting jobs and helping our economies recover from the pandemic.

British High Commissioner to Brunei Darussalam John Virgoe said, “Joining CPTPP will create new opportunities for UK and Bruneian businesses, taking our bilateral trading relationship to the next level and supporting mutual prosperity and job creation.”

Meanwhile, The Prime Minister’s Trade Envoy to Brunei Darussalam Mark Garnier MP said, “This is an important step towards the UK having an even closer economic relationship with Brunei, and the Indo Pacific more broadly.” - Borneo Bulletin/Asia News Network

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Brunei , UK , CPTPP

   

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