UK gets full access to £2 billion-a-year trans-Pacific trade deal
The deal means that British businesses operating in Canada can travel more easily to the North American country
The UK has been granted full access to an international trading agreement believed to be worth £2 billion a year to the economy in the long-term.
Listen to this article
Full membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was granted, as of Tuesday, September 1, after Canada ratified the country’s accession in July.
The UK first signed up to the deal in 2023, and it began to enter into force the following year as member countries ratified its place.
Canada is the final member of the 11-strong deal to agree to the UK’s membership.
The deal means that British businesses operating in Canada can travel more easily to the North American country.
Eligible business visitors are now able to stay for up to six months, compared with the previous limit of 90 days in any six-month period.
When combined, the economies of all CPTPP members are worth almost £10 trillion as of 2025.
The agreement is expected to deliver around £2 billion a year to the UK economy, the Government estimates.
Trade minister Lord 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.”