Mexico will have free trade with the United Kingdom via CPTPP.
The British government announced that after 21 months of negotiations, it has closed a deal to join as the 12th member and the only European country to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), its biggest trade agreement since Brexit.
Downing Street announced that the CPTPP countries, including the United Kingdom, will have a combined GDP of $13.6 trillion, representing 15% of the world's GDP, and a population of 500 million.
The UK's accession to the bloc would not have been possible as a member of the European Union, according to Downing Street. Additionally, the country's utilization of its new post-Brexit trade freedoms was praised.
The CPTPP was originally composed of eleven Asia-Pacific countries, and over 99% of UK exports of goods to CPTPP countries will be tariff-free.
On the other hand, although a trade agreement with the United States is expected, negotiations have stalled. The CPTPP is the most important free trade agreement in the Pacific region.
AFP & Reuters. 30th march 2023. Tendrá México libre comercio con Reino Unido vía el CPTPP. El Reforma. Retrieved from: https://www.reforma.com/aplicacioneslibre/preacceso/articulo/default.aspx?__rval=1&urlredirect=/tendra-mexico-libre-comercio-con-reino-unido-via-el-cptpp/ar2579381?referer=--7d616165662f3a3a6262623b727a7a7279703b767a783a–