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Original title: Britain intends to apply to join the CPTPP rotating chair, Japan will start coordination
China News Service, January 31. According to “Central News Agency”, the British government will submit a formal application on February 1 to joinPacific OceanPartnership Agreement (CPTPP). In this regard, Japan, which will be the chairman of the CPTPP in 2021, will hold tripartite ministerial talks with the United Kingdom and New Zealand.
Liz Truss, the British Secretary of State for International Trade, is expected to file an application on February 1, and formal negotiations will begin in the spring of 2021. The United Kingdom is the first non-originating member country to apply for membership. If it successfully joins, it will become the second largest economy after Japan.
CPTPP representatives signed the agreement in 2018. The current member states include Japan, Australia, New Zealand, Canada, Malaysia, Singapore, Vietnam, Brunei, Mexico, Chile and Peru. The 11 member states have a market population of about 500 million people, and the combined gross domestic product of the member states accounts for about 13% of the global economy.
The UK continued to negotiate free trade agreements with many countries before officially leaving the European Union. However, the volume of trade between the UK and CPTPP is still relatively small compared to the past with the EU. Taking 2019 as an example, the CPTPP member countries only accounted for 8.4% of UK exports. However, joining the CPTPP allows certain British goods to be exported with zero tariffs, such as whiskey exported to Malaysia and cars exported to Canada.
Faced with the United Kingdom’s intention to apply to join the CPTPP, Japan, as the chairman of the CPTPP in 2021, will hold a tripartite ministerial meeting between Japan, the United Kingdom and New Zealand on February 1.
According to reports, after the United Kingdom formally submits an application for accession, a CPTPP committee composed of member states will be organized as soon as possible to coordinate negotiations for the United Kingdom to join. On the other hand, after Brexit, the bilateral economic cooperation agreement between Japan and the United Kingdom has come into effect on January 1, 2021.
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