Just a bit of info on the CPTPP:
https://en.wikipedia.org/wiki/Comprehensive_and_Progressive_Agreement_for_Trans-Pacific_Partnership
Certain selected sections:
1) In June 2020, the government of the
United Kingdom issued a policy paper
[83] reaffirming the UK's position on accession to the CPTPP. There were three reasons given:
- Securing increased trade and investment opportunities that will help the UK economy overcome the unprecedented challenge posed by coronavirus. Joining CPTPP would open up new opportunities for UK exporters in strategically important sectors and helping to support an industrial revival in the UK.
- Helping the United Kingdom diversify trading links and supply chains, and in doing so increasing economic security at a time of heightened uncertainty and disruption in the world.
- Assisting the UK's future place in the world and advancing the UK's longer-term interests. CPTPP membership is an important part of our strategy to place the UK at the centre of a modern, progressive network of free trade agreements with dynamic economies. Doing so would turn the UK into a global hub for businesses and investors wanting to trade with the rest of the world.
Furthermore, the UK government stated that in 2019, each region and nation of the UK exported at leas
t £1 billion ($1.25 billion) 'Wow all that!) worth of goods to CPTPP member countries.
[84] The UK government also highlighted that UK companies held close to £98 billion worth of investments in CPTPP countries in 2018
[85] and that in 2019, the UK did more than £110 billion ($137 billion) worth of trade with countries in the CPTPP free trade area.
[86] In December 2020 the UK's Secretary of State for Trade
Liz Truss further expressed her desire for the UK to formally apply in early 2021.
[87] In a speech, held on January 20, 2021, Truss announced the UK planned to submit an application for participation "shortly".
[88] In October 2020 the United Kingdom and Japan already signed the
UK-Japan Comprehensive Economic Partnership Agreement which was a roll over of the agreement between the EU and Japan.
2) The UK government has not produced an impact assessment that explains or quantifies the benefits it expects for the UK economy from accession to CPTPP.
[89] As such, it is a matter of dispute in UK as to whether accession is worth pursuing for economic reasons.
[90] Farmer, environmental and consumer groups have all raised concerns that the UK government will need to agree to lowering standards on pesticides, pig welfare and food labelling.
[91] These concerns have also been raised by the Scottish government.
[92]
In June 2021, the CPTPP states agreed to open accession talks. A working group is expected to be established to discuss tariffs and rules governing investment and trade. The UK is not expected to accede to the CPTPP until 2022 at the earliest.
[93]
3) Economist
José Gabriel Palma has criticized the treaty for
severely restricting the sovereignty of the signatories.[113] Signatories are subject to international courts and have restrictions on what their
state-owned enterprises can do.
[114] According to Palma the treaty makes it difficult for countries to implement policies aimed to diversify exports thus becoming a so-called
middle income trap.
[113] Palma also accuses that the treaty is reinforcing unequal relations by being drafted to reflect the laws of the United States.
[114]
Plus the UK already have roll-over deals from the EU with most of them. Not NZ, Aus, Malaysia or Brunei yet.
)
