UK ACCESSION TO THE CPTPP
Parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have agreed to admit the United Kingdom (UK) as its first new member following two years of negotiations.
The 11 CPTPP parties and the United Kingdom signed an Accession Protocol at the 7th meeting of the CPTPP Ministerial Commission in Auckland today.
Australia warmly welcomes the UK as a new member of the CPTPP. This development builds on the foundations of the Australia-UK Free Trade Agreement, which entered into force on 31 May 2023.
CPTPP membership enhances the UK's engagement in the Indo-Pacific and supports our interest in working with partners to realise an open, inclusive and prosperous region.
The CPTPP is one of the most comprehensive trade deals ever concluded, eliminating 98 per cent of tariffs in a trade zone representing a combined GDP of $11.8 trillion and a population of over 500 million people.
An accession working group, established in mid-2021 to progress the terms and conditions for the UK’s accession, presented the Accession Protocol and accompanying Accession Working Group report that was approved by consensus today by the Ministerial Commission.
The Commission agreed the UK was able to demonstrate it can meet, implement and adhere to the rules and standards of the Agreement and possessed a track record of complying with trade commitments.
CPTPP members will now complete their domestic processes to bring the Accession Protocol into force. The CPTPP’s original members are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.