politics

UK to join Asia-Pacific trade pact in its biggest post-Brexit deal

34 Comments
By Joe JACKSON

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34 Comments
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Smacks of desperation from the UK and Sunak.

They aren't in the Asia-Pacific. What have they got to offer?

5 ( +14 / -9 )

Desperate for new trading partners after Brexit.

2 ( +10 / -8 )

Bilaterally the deal will include cheese and onion crisps, a strong military pact, yoshinoya and Ippudo and cocoichibanya at W1B and SW7 post codes, cheese, soba, British lamb, skittles, kikkoman, stiff upper lips, mars ice creams, cashless technology ( the 3 wave symbols ) on pasmos and more Shochu awareness. I’m going to celebrate with a beer shortly

6 ( +8 / -2 )

U.K is desperate!

Good luck with that !

Smh

-7 ( +3 / -10 )

And as everyone knows they've renegotiated a trade deal at worse terms than they had in the EU.

But of course it will be portrayed as a game changer

1 ( +8 / -7 )

What they gonna do? Send Nissan from Sunderland? Smacks of desperation, by a desperate government for desperate people. So, it’ll fit in well with the Brexit types. Well done! /s

-4 ( +5 / -9 )

Like giving up a Premier League spot for a chance at Northern Counties Championship (under 16s) glory….

-1 ( +6 / -7 )

They aren't in the Asia-Pacific. What have they got to offer?

Mars bars, crumpets and tea etc.

Is this CPTPP thing then the pathetic "Brexit opportunity" Reese-Mogg keeps bleating on about? Asia is not going to pull the UK out the hole the Tories dug for themselves and for the delusional punters who voted for them.

3 ( +8 / -5 )

£1.8 billion.

Or,in other words,0.08% boost to the UK economy.

2 ( +5 / -3 )

A wider selection of cheese, at a cheaper price, would be nice.

10 ( +11 / -1 )

Britain is becoming a failed state. You can only buy two tomatoes per person, NHS is collapsing, poverty is at record highs, trade with EU after Britex is diminishing, its main battleship is out of action, crime is rising…so they are so desperate they are coming to TTP. Sad.

-5 ( +4 / -9 )

EU trade relations with the Pacific. Facts, figures and latest developments.

https://policy.trade.ec.europa.eu/eu-trade-relationships-country-and-region/countries-and-regions/pacific_en

UK, this need to compare politically and economically to our global partners should be in the judged in the domestic arena.

UK sectors would be at the behest of the CAP .....

Look this could have created a a reform program, restructure for the belief to all cisterns.

https://www.consilium.europa.eu/en/policies/cap-reform/

Lets ask the question could UK be be part of the EU?

At least read.

0 ( +0 / -0 )

WELL, We want some special opt-outs. cause we are British!

Second, we will want to have a special Vito, cause we are British!

Third, we will want to have special rights, cause we are British!

Fourth, If we don't like it, we reserve the right to throw a huffy and blame everyone in Asia for making rules, we didn't choose. Can't wait to see how the British garbage press starts to hear we have to take on rules made by Asia, china, japan et al. Remember, it was we who won the war. I think Japan, China et al will get way more out of this than the UK will. Still, the UK economy is a right dog's dinner back in the UK.

-3 ( +5 / -8 )

Fighto @ 4.46pm

We live in a global environment. Mutual trade benefits all.

Don't be so Asia centric.

7 ( +8 / -1 )

All members voted them in, so welcome to the CPTPP UK. Agree Taiwan should be next and China a big NO! The more nations with advanced tech, a good service sector and a mature reliable ability to deliver will be welcomed. Also dont forget it is another market for the original eleven to access with no tariffs.

All up a sensible addition.

1 ( +5 / -4 )

I don't believe that there is any economic fiscal political comparison.

That is between the EU and CPTPP

Can the EU Save the CPTPP?

The CPTPP needs more market share. The EU needs to expand its trade leadership in the Asia-Pacific.

https://thediplomat.com/2022/06/can-the-eu-save-the-cptpp/

Both have little relevance when compared to structure.

Especially when CAP and the political nature of the structure of the Europeans Union.

1 ( +1 / -0 )

Looking forward to the opportunities it will surely bring!

2 ( +4 / -2 )

Can't wait to see how the British garbage press starts to hear we have to take on rules made by Asia, china, japan et al. Remember, it was we who won the war. I think Japan, China et al will get way more out of this than the UK will.

China wont get anything as it is not a member of the CPTPP. But the UK now is and for China to gain membership it must now get the approval of 12 nations not just the original 11.

China makes no rules regarding CPTPP, thats only for members.

6 ( +6 / -0 )

I bet the Asia Pacific region cannot wait to inherit Britains failed public transportation system, zero domestic industry (all sold off to foreign ownership), its NHS waiting times and British Universities complete dependance on Chinese student revenue. What a coup for the region...

-2 ( +3 / -5 )

Let’s hope the UK, and the USA encourage Taiwan to join but I do t think they will allow that, for fear of upsetting China. Guaranteed! If Tawain can’t even joking the WHO they have no hope of joining an economic block. Plus the US will want to find some fudge, cause they’ve got the most to loose. (If the USA joins)

if the USA joins they’ll want the UK health sector opened up. No exception! And since they don’t have a rather socially responsible health care sector they won’t want to compromise.

0 ( +1 / -1 )

hopefully the trade bloc will continue to ignore USA and China. The whole point is to be able to compete with them, not just be swallowed up by them again. Also especially China, please no

2 ( +2 / -0 )

Would have been nice if Trump hadn't screwed up our whole trade policy by keeping us out of TPP. The US can only go it alone so far and it would have been a huge advantage to have us in and China out.

2 ( +3 / -1 )

The Prime Ministers of Singapore and Malaysia are both in China now. A much friendlier government is now seated in Canberra. It's only a matter of time until the largest economy in the region is included. Just like the Brits of the 19th century, it's that fat China market, yo!

-4 ( +0 / -4 )

It's only a matter of time until the largest economy in the region is included. Just like the Brits of the 19th century, it's that fat China market, yo!

It's a currency manipulation and intellectual property theft market. Countries would be stupid to let China ruin TPP.

5 ( +5 / -0 )

Pathetic...

It's Brexit sinking desperate measures..

-1 ( +2 / -3 )

LOL. ASEAN leaders wisely included China in RCEP free trade agreement. I'm not sure including Australia and New Zealand was wise. I'm all for trying the Asia for Asians thing at least once.

-5 ( +0 / -5 )

Small numbers...

UK-Asia trade deal to boost UK economy by 0.08% https://www.bbc.co.uk/news/business-65124741

Bigger numbers...

The most immediate effect of Brexit on trading was that UK exports to the EU declined. Researchers at Aston University found UK exports to the EU fell by an average of 22.9 per cent in the first 15 months after its departure from the bloc, between January 2021 and March 2022. ... An even more pronounced change was the dip in the value of UK exports to the EU. Experts think that this is due to the increased fixed costs of exporting to the EU, knocking out many small companies. [https://www.fibre2fashion.com/industry-article/9554/three-years-of-brexit-impact-on-uk-trade]

Sterling is down about 25% since before the Brexit referendum, making the UK 25% poorer or most things 25% more expensive for British consumers and companies, depending upon how you look at it.

1 ( +1 / -0 )

Let’s hope the UK, and the USA encourage Taiwan to join but I do t think they will allow that, for fear of upsetting China. Guaranteed! If Tawain can’t even joking the WHO they have no hope of joining an economic block.

Taiwan has already applied to join 18 months ago. They are more likely to be accepted than China whom nobody trusts.

2 ( +2 / -0 )

If Tawain can’t even joking the WHO they have no hope of joining an economic block.

That would be an impressive feat if the TPP blocked them as criminal China isn't even a member. Just because some international organizations act disgracefully doesn't mean they all do.

2 ( +2 / -0 )

What have they got to offer?

https://en.m.wikipedia.org/wiki/List_of_exports_of_the_United_Kingdom

The entire premise of a trade pact, btw, is to exchange resources NOT available locally so as to generate growth, as long as members don't act like mercantilists - read China!

Now, just so you're aware the world rely on advanced jet engines are from the UK, as with advanced RISC processors and their design tools. The UK actually has 'potential' for much, much more, if only EU membership hadn't held them back.

Just look at these EU induced blunders:

Consumer sentiments for SUV, but JLR (inventor of the segment) was barely surviving, and had to be divested to American, then Indian. What a lost opportunity.

Advanced metal, lost out to Russia! Sigh.

Dairy! Lost out to NZ.

Luxury goods, lost out to the French and Italian.

I just hope banker Sunak is not going to bugger up what's left of the UK.

-1 ( +0 / -1 )

So many Brexit-haters posting here miss the point. This is a trade deal that will be mutually advantageous. The EU was a political deal that involved surrender of sovereignty. The benefits of the trade aspects of the EU did not compensate for the loss of 1,000 years of independence.

0 ( +1 / -1 )

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