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UK exploring membership of Trans-Pacific Partnership

  • Ireland
  • General

23-01-2018

It was reported on 3 January that the UK is in talks to join the Trans-Pacific Partnership to try and boost exports after leaving the EU.
 
If the proposals go ahead Britain would be the first member of the trade agreement which does not have borders on the Pacific Ocean or the South China Sea. The trans-Pacific trade group is currently regrouping after losing the US, its largest member, when it withdrew from the agreement last year.  The 11 remaining member states include Australia, Mexico, Singapore and Canada. The UK is not permitted to make trade deals before it formally leaves the EU.
 
Combined spending from the 11 TPP countries currently makes up less than 8% of the UK’s export market, with Japan taking just 1.6% of UK exports, compared with the 11% bought by Germany.
 

Sean Ryan, Partner

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