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Britain begins negotiations to join the Trans-Pacific Trade Agreement

Britain begins today, Tuesday, its negotiations to join the Trans-Pacific Trade Agreement (CPTPP), which it considers crucial, after its exit from the European Union (Brexit), towards more geographically farther and faster-growing economies.

Under this comprehensive and advanced Trans-Pacific Partnership agreement, member states will get a 95 percent exemption from tariffs between them. Among the countries that are members of this agreement are: Japan, Canada, Australia, Vietnam, New Zealand, Singapore, Mexico, Peru, Brunei, Chile and Malaysia.

According to the "Euroactive" media platform, which specializes in European affairs, British Trade Secretary Liz Truss said that her country, after exiting the European Union, was seeking to find a place for itself in global trade and deepen ties with old allies and fast-growing consumer markets outside Europe.

The CPTPP is expected to increase British exports, including in the legal, financial and professional services sectors.

The British Department of Commerce said - in a statement -: "The membership negotiation process revolves around ensuring that Britain can meet the group's criteria on the elimination of tariffs and trade liberalization."

The statement added: “Unlike the European Union, the CPTPP does not impose laws on its members, does not aim to create a single market or customs union, does not seek broader political integration, and contains strong rules against unfair trade practices such as SOE preference, protectionism, Discrimination against foreign investors, and forcing companies to hand over private information.

It is noteworthy that the United States of America withdrew from the Trans-Pacific Trade Agreement during the era of President Donald Trump, while the current US President Joe Biden indicated the possibility of renegotiating at a later time, but he did not specify a date for implementing this.