<p>UK Prime Minister Sunak has announced the country will join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).</p><p>There are 11 members (will be 12 when the UK joins):</p><ul><li>Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and Canada.</li></ul><p>The bloc is focused on lowering tariffs</p><ul><li>members mutually drop 98% of their barriers on goods</li><li>the pact allows different components of final products — such as automobiles — to come from member nations tariff-free</li></ul><p>The UK has been keen on joining trade agreements ever since Brexit deprived the country of easy access to the 300m people next door. </p>
This article was written by Eamonn Sheridan at www.forexlive.com.
