Britain pushes to join global trading group one year after Brexit

Agencies | London

The Daily Tribune – wwwnewsofbahrain.com

Britain said it will formally apply to join the global trading group known as the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) exactly one year after leaving the European Union.

International Trade Secretary Liz Truss will speak to Japan and New Zealand ministers next week to request to join the trading group, with formal negotiations set to start this year.

"We're at the front of the queue and look forward to starting formal negotiations in the coming months," Truss was quoted as saying in a statement.

"One year after our departure from the EU we are forging new partnerships that will bring enormous economic benefits for the people of Britain," British Prime Minister Boris Johnson said.

The CPTPP is the renamed version of the Trans-Pacific Partnership (TPP), a regional trade deal promoted by the administration of then-US president Barack Obama. His successor, Donald Trump, withdrew from the TPP shortly after taking office in early 2017, dpa reported.

The group includes Japan, Canada, Australia, New Zealand, Mexico, Singapore and Vietnam. The US had originally planned to join, but Trump withdrew his country from the negotiations.

Britain is seeking a range of trade deals after formally leaving the European Union at the beginning of 2020 and the bloc's single market and customs union after the expiration of a 11-month transition period.

Negotiations between Britain and the EU have become increasingly fraught.

"Unlike EU membership, joining does not require the UK to cede control over our laws, borders, or money," the Department for International Trade said in the Saturday statement.