On 19 June, Canning House hosted an invitation-only virtual roundtable with Ranil Jayawardena MP, Minister for International Trade; and Joanna Crellin, Her Majesty’s Trade Commissioner for Latin America and the Caribbean, to discuss the UK’s potential accession to the Comprehensive and Progressive Trans Pacific Partnership (CPTPP).
This meeting was organised in partnership with the Department for International Trade.
Joanna Crellin explained to our attendees - including parliamentarians and leading corporate figures - that the UK's accession to CPTPP has been a long time in the making. The modern, progressive Free Trade Agreement (FTA) has a focus on trade in Services, an area of particular strength for the UK, and can act as a signal that the UK is ready to do business. Moreover, it provides an opportunity to further improve the UK's trading relationship with Chile, Mexico and Peru in fast-growing industries in which the UK is strong.
Ranil Jayawardena MP echoed Ms Crellin's words, adding that CPTPP will aid in diversifying and securing the UK's international trade at the centre of a modern, progressive network. Whilst the UK has established trading relationships with many countries in CPTPP already, the agreement will open further doors around the world - including in Latin America, enabling plans in the region. The Minister emphasised that the UK is committed both to its accession to CPTPP and its FTA negotiations with Australia and New Zealand, and that a final decision on CPTPP would take into account Britain's broader global interests.
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