With Canada being the final country to have ratified the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Government has confirmed that British businesses can now access the full benefits of the UK’s membership.
With a membership of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and, from 1 September 2026, the UK, the CPTPP’s combined GDP totals almost £13 trillion.
According to the Department for Business, Innovation, Science and Trade (DBIST), the agreement with the CPTPP is expected to deliver around £2 billion a year to the UK economy in the long run.
Over 99% of UK current goods exports to CPTPP member countries will be eligible for zero tariffs, improving goods market access for British firms.
Minister for Trade, Anas Sarwar, said: “With full access to the CPTPP, there are now new opportunities for British businesses across some of the world’s fastest-growing markets. Whether it’s selling our world-class food and drink or winning public contracts, we will continue to back British business to succeed across the world, driving growth and creating jobs across the country.”
He also pointed out that UK businesses operating in Canada will benefit from easier travel arrangements under the CPTPP, with eligible business visitors now able to stay for up to six months, compared with the previous limit of 90 days in any six-month period.
An impact assessment of the UK’s accession to the CPTPP produced under the previous government, can be found here.
