UK to join trading bloc which has 63 million more consumers than the EU

Unlike EU this bloc doesn’t want to rule over our laws, borders, vaccines, or money

Today UK celebrates 1 year of Brexit, applies to join most populous trade bloc in world

The great Brexit news just keeps on coming. With Brexit Britain far out in front of the EU on its vaccine strategy and programme, today we report on another area of excellence which the UK has been developing since freeing itself from the EU’s shackles.

This morning the Rt Hon Liz Truss MP, Secretary of State for International Trade, will make a conference call to her counterparts in Japan and New Zealand. In this call she will formally start the UK’s application to join the most populous trading bloc in the world: the Pacific free trade area known as the CPTPP.

Brexit Facts4EU.Org Summary

The CPTPP compared to the EU27

The population of the CPTPP countries is 508 million
The population of the EU27 is 445 million
When the UK joins the CPTPP, the combined population will rise to 575 million
That will be 29% more than that of the EU27

On the road to joining the most populous trading bloc in the World

“Joining CPTPP will create enormous opportunities for UK businesses that simply weren’t there as part of the EU and deepen our ties with some of the fastest-growing markets in the world.
“We’re at the front of the queue and look forward to starting formal negotiations in the coming months.
- Liz Truss, UK International Trade Secretary, Singapore, 10 Dec 2020

Joining this Pacific £8.5 trillion partnership will cut tariffs for UK industries, for example:

Whisky (down from 165% to 0% in Malaysia)
Cars (reducing to 0% in Canada by 2022, two years earlier than through the UK-Canada trade deal)

It will also create new opportunities for modern industries like tech and services, ultimately supporting and creating high-value jobs across the UK. Crucially, unlike EU membership, the CPTPP are not demanding control over our laws, borders, territorial waters, vaccines, or money.

According to the ONS, UK trade with the CPTPP was worth £111 billion in 2019, and has grown on average by 8% a year since 2016 – several times faster than the growth in UK trade with the EU.

What precisely is the CPTPP?

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement between 11 countries in the Asia-Pacific region: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Seven of these countries are already parties to the agreement, with the others going through domestic ratification processes.

Brexit Facts4EU.Org analysed the economic opportunity for the United Kingdom. Our research shows :-

The 11 current signatories accounted for 12.9% of global GDP in 2019
This would rise to 16.2% if the UK were to join
If South Korea joins, the CPTPP would have 18.0% of global GDP
The EU27's share is 17.9% and falling

As can be seen above, if the UK joins, the CPTPP will be snapping at the heels of the EU in terms of share of the global economy. Given the much faster growth rates in the CPTPP than in the EU, it is very likely that the EU will fall into third place (after the US-Canada-Mexico trading bloc and the CPTPP) in short order. In addition, several more countries are in the wings.

The United Kingdom formally declared its interest in 2018, and this has already been welcomed by several members including Japan who currently holds the presidency. The other countries which have made formal announcements include China, Colombia, Indonesia, Philippines, South Korea, Taiwan, and Thailand. If the UK and, say, South Korea joined, the CPTTP’s combined economies would exceed those of the EU27.

Observations

In the last five years Brexit Facts4EU.Org has reported many times on the range of opportunities for an independent and free-trading United Kingdom, once it was no longer under the suffocating control of the unelected bureaucrats of Brussels.

In recent years we have reported on the UK’s trading possibilities with countries in the Pacific region, including Commonwealth friends such as Australia and New Zealand. In particular we covered the UK’s expression of interest in 2018 to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as well as subsequent positive developments with the countries involved.

Going forward

We continue to research and publish reassuring reports based on the EU’s own data and on data such as that above from the Dept for International Trade, the UN and the IMF, debunking the Remainer myths and urging heads to be held high. The country was right in 2016 to vote to leave the European Union. The subsequent hostility and bad faith from the EU since that time has shown just how right voters were.

With our donations having fallen due to the Covid measures, we urgently need some generous readers to help to keep us going. Quick, secure, and confidential donation links are below this article or you can use our donations page here. A member of our team will send you a warm ‘thank you’ note and you can sit back in the knowledge that you’ve done something to help to ensure progress towards a fully free, independent, and sovereign United Kingdom. Less than 1% of our readers have made a donation. Can you help to increase this to 2%, 3%, 5%...?

[ Sources: UK Department for International Trade | CPTPP Commission | UN population data | IMF GDP data ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Mon 01 Feb 2021

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Reader Comments 16

1. Richard junior , Monday, February 01, 2021, 07:48:

Very pleased to read such positive news - thank you for publishing this!
I'm still astonished that rejoiners don't seem to want anything good to happen to the UK. And then are surprised that they live in constant, self-created misery.
Happy Brexit anniversary everyone!

2. Ashley Great Britain , Monday, February 01, 2021, 08:38:

Great news.
I think you will find the more trade deals we get outside the Eu,And the more we prosper from it,We will just tell the Eu to run along now.
The Eu are clearly just falling back with rejoiners now in a childish school boy manner.
They won't stop trying to control us and extract our money.We will fight them all the way.
Canzuk trade agreement next.
How nice it will be to actually have genuine trading partners that don't scheme behind our backs.

3. String em , Monday, February 01, 2021, 09:35:

Doesn't have a parliament and lots of inept commissioners.

4. DSP, Surrey , Monday, February 01, 2021, 10:15:

So when the UK joins it, this trading bloc will have 130 million more consumers than the EU.
Well done to Dr Liam Fox and to Liz Truss for all their negotiations over the last few years that have got us to this point. And well done you for bringing this to us.

5. Mary Quite Contrary , Monday, February 01, 2021, 11:07:

@Richard junior (comment1), rejoiners just hate any good news for this country. Most ordinary people who voted remain in 2016 did so because they believed the rubbish the government and establishment told them in project fear. Now it's 5 years later most of these rational people accept they were fed a bunch of lies because that's what the facts since have shown them. Then to cap it all they saw the EU last week introducing a hard border in NI because of a commercial dispute after all they'd said about 'peace' and then saw them be forced to back down some hours later when even Merkel and Macron said they'd gone too far.
I think the only eu-lovers left are the fanatics.

6. Trish Brocks , Monday, February 01, 2021, 11:26:

Hopefully we can get 100% of fishing back soon and go No Deal if EU objects!

7. Beryl Whiting , Monday, February 01, 2021, 14:49:

Great news

8. Michael Burnhill , Monday, February 01, 2021, 18:37:

And we won't be paying for the privilege or have them making our laws.

9. Not4EU, London , Monday, February 01, 2021, 20:20:

5. Mary Quite Contrary.
The EU's actions on Friday was a clear show of intent of what they plan for the future using the traps in the disgraceful WA Treaty that was unnecessarily & hastily signed & ratified effectively without scrutiny nor serious debate.
The only reason that they 'backed down' was that it was pointed out that the Treaty is not yet completed, as the EU have not yet ratified the agreement. Thus, they were trying to invoke a clause which is not yet legal under international law.
Do not think for a minute that they will not hesitate to enforce it again once they ratify it. It was precisely this abuse that the amendments to the SM Bill were for, but 'mysteriously' dropped for the WA. One wonders what exactly has been unlawfully agreed in the past to warrant effective annexation, territorial cedence & disguised continuing control of our country by our pitiful PM to cover up.

10. Eric Pullin , Tuesday, February 02, 2021, 08:23:

I am a logical person. I fail to see the logic in leaving the world biggest single market because we didn´t want to be part of a group who had rules that we had to follow, and doing so impacted on our sovereignty, just to join another group, who´s rules we will have to follow, and doing so will impact on our sovereignty. Substitute Germany and France with China and Japan and what have we got. Somehting very similar to what we have spent 4 years getting out of. Someone please explain.

16 comments, page 1 of 2

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