Britain joining CPTPP is a triumph for the Tories

This morning ministers have confirmed that Britain has joined the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) – the first new nation to do so since it was set up in 2018. It comes after nearly two years of intense negotiation and secures access for British exporters to 500 million people. Spanning Canada, Mexico, Japan, Australia, Vietnam and Malaysia, the deal is expected to be ratified by parliament and those of the other 11 member states later this year.

Rishi Sunak claims that ‘this deal demonstrates the real economic benefits of our post-Brexit freedoms’; Kemi Badenoch, the Trade Secretary, says it ‘sends a powerful signal that the UK is open for business.’ Ministers expect CPTPP membership to generate £1.8 billion of extra income once it has been up and running for ten years. They point to it as a sign of deeper engagement with the four-billion-strong Indo-Pacific region as part of Britain’s foreign policy.