Take that EU! Brexit Britain on track to strike multi-billion CPTTP agreement by 2022
UK has moved to ‘offensive’ trade position says Liz Truss
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Speaking to the think tank Policy Exchange, the Secretary of State for International Trade explained how negotiations are going well to secure the post-Brexit deal expected next year. In a discussion with former Australian Prime Minister Tony Abbott and veteran journalist Charles Moore, Liz Truss added how the move will see the UK take part in a free-trade area worth nine-trillion pounds as Britain takes on a more “offensive position” with its trade ambitions.
Liz Truss told the Policy Exchange panel: “Australia was a very positive move forward, it was our first ‘from scratch’ post-Brexit trade deal.
“We have moved from quite a defensive position on trade to a much more offensive position.
“Pushing very hard on UK areas of interest like digital services, mobility – we are the second-largest services exporter in the world
“We have a huge opportunity, not just with Australia and New Zealand which we are also negotiating at the moment.”
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She added: “But with the entry to the Trans-Pacific Partnership… that is a nine trillion pound area that the UK is poised to join!”
Ms Truss confirmed how those negotiations are “going well” and that they should conclude “next year” (2022).
The Trade Secretary added how that deal will be a “huge step forward” for the United Kingdom as it pursues life outside of the bloc.
She also added how the UK is also not planning on leaving the relationship with the USA behind either.
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She stressed: “Of course we continue to work with the United States, we have been cooperating on issues like aircraft and steel.
We are talking about more digital work with the United States
“But the UK has a real opportunity to become a global hub, particularly for digital and services.”
She said the UK is also planning on reaching out to India who could be “vitally important” to Britain’s future trade.
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The Trans-Pacific Partnership (CPTPP) which stands for Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a free-trade partnership of eleven countries in the Pacific region of the world.
Its members include Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
The Partnership makes up 13.4 percent of global GDP making it one of the biggest free-trade regions in the world and a major centre for global trade.
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