Brexit: Michel Barnier insists his ‘mission isn’t over’
Writing for the Sunday Express today, international trade secretary Liz Truss said that the massive opportunity for British businesses to join a £9 trillion free trade area is only possible because “we are no longer held back by the EU.” The 11 country bloc is one of the fastest growing free trade areas in the world set to overtake the EU in the next few years. The announcement comes as the UK celebrates one year since leaving the EU and becoming an independent trading nation.
Prime Minister Boris Johnson hailed the move which will be the biggest Brexit bonus yet. He told the Sunday Express: “A year on from leaving the EU, we are wasting no time forging new partnerships that will reap huge economic rewards for British people and businesses.”
“Applying to join up with old friends like Australia, Canada and New Zealand as well as exciting, fast-growing markets like Vietnam is a demonstration of our commitment to making Britain an enthusiastic champion of global free trade.”
It comes after the UK international trade secretary Liz Truss has already signed 63 trade deals with £885 billion over the last year.
Brexiteer Tory MPs hailed the move as proving the future success of Global Britain is outside Europe.
North west Leicestershire MP Andrew Bridgen said: “We don’t need EU any more. This just confirms the massive opportunities Brexit is already bringing to this country.”
We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.
The EU were afraid Brexit would turn Britain into a major competitor and now their worst fears are being realised.”
The TPP group includes Japan, Australia and New Zealand and will give British companies tariff free access to all its economies.
In a further boost, newly elected US President Joe Biden is set to take the US back into CPTPP which means that Britain will have a trade deal with America by default and access to the biggest market in the world.
Unlike the EU single market membership of CPTPP does not force Britain to pay more than £10 billion a year, adopt laws from a foreign entity, have free movement of people with no controls on immigration, or accept rulings from a foreign court.
JUST IN: ‘Car crash in slow motion’ EU diplomats fume over vaccine fiasco
In an article for the Sunday Express, Ms Truss said: “Now we are no longer held back by the EU, we have the freedom to go further and faster to support our job creators. That is why we are seizing opportunities available to us only as an independent trading nation.”
She went on: “CPTPP includes some of the most dynamic nations in the world, covering £9 trillion of global GDP and 13% of total household spending.
“Joining will create unheralded opportunities for UK businesses that simply weren’t there as part of the EU and deepen our ties with some of the fastest-growing markets on earth.
“It will mean lower tariffs for car manufacturers and whisky producers, and better access for our brilliant services providers, delivering quality jobs and greater prosperity for people here at home.”
She also made a swipe at former US President Barack Obama who claimed in 2016 that Brexit Britain would be “at the back of the queue.”
World Health Organisation slaps down Von der Leyen’s new measures [INSIGHT]
Piers Morgan attacks ‘arrogant’ EU for ‘uniting Britain about Brexit’ [DETAILS]
Brexit LIVE: Von der Leyen asked to resign after ‘grievous error’ [BLOG]
She said: “We’re at the front of the queue and look forward to starting formal negotiations in the coming months.”
The Government has been clear that the NHS and the price it pays for drugs is not for sale in any trade negotiations – including TPP – and that it will not sign trade deals that compromise the UK’s high environmental protections, animal welfare and food standards.
The UK will publish its negotiation objectives, scoping analysis, and consultation response in advance of negotiations expected to start this Spring.
TPP membership is a key part of the Government’s plan to position the UK at the centre of a network of modern free trade deals that support jobs and drive economic growth at home, while also positioning us as a champion of free trade and reform of the rules-based system abroad.
With almost all the current members of CPTPP in favour of the UK joining the bloc, the process will end with Britain becoming a member.
Business leaders hailed the decision especially for tech companies. Julian David, CEO of techUK, said: “This marks an important step in UK’s path to developing a modern trade policy that creates new opportunities for the UK tech sector.
“Building on our recent agreements with Japan and the European Union, the accession to the CPTPP will allow us to join a group of ambitious countries breaking the newest ground in digital trade.”
The UK has been a major beneficiary of the rise of digital trade with over 67 per cent of service exports worth £190.3 billion being digitally delivered.
Mike Cherry, Federation of Small Businesses (FSB) Chair, said: “Membership of the CPTPP would be a hugely welcome development to all small businesses looking to either expand or begin their trading journeys.”
“Crucially, at the very heart of this agreement is an SME chapter, something that we have lobbied for the inclusion of in every FTA, ensuring that no business is left behind.”
This is truly a world-leading agreement and one that will genuinely help small firms to thrive and succeed more than ever.”
Brexit Party: Former MEPs reflect on UK leaving the EU
CBI President, Lord Karan Bilimoria, added: “This ambition marks a new chapter for our independent trade policy. As one of the largest free trade agreements in the world, these 11 countries contribute over £100 billion to our economy.“
Membership of the bloc has the potential to deliver new opportunities for UK business across different sectors. The CBI will continue to work with the Government to ensure that firms get the most out of an agreement that will create jobs and deliver wide-ranging benefits to communities across the country.”
Ms Truss will speak to ministers in Japan and New Zealand on Monday morning to formally request to join the CPTPP, with formal negotiations set to start as soon as Spring.
The government sees joining the bloc as part of a big strategic move that aims to deepen the UK’s access to fast-growing markets and major economies of the future, including Mexico, Malaysia and Vietnam, for the benefit of UK business.
The UK would be the first country to take forward accession negotiations since the agreement was formed in 2018, putting us at the front of the queue to become the next full member. A number of other countries have also expressed an interest in joining, including Thailand, Taiwan and South Korea.
Source: Read Full Article