UK on the verge of a trade agreement with New Zealand – Prensa Latina – SmallCapNews.co.uk

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We are close to reaching an agreement in principle, the official said, citing Sky News on Saturday.

After ensuring that the UK and New Zealand share common values, a history and a common commitment to free trade, Truss noted that the agreement represented an important step in London’s aspirations to join the Comprehensive and Progressive Treaty on Trans-Pacific Partnership (CPTPP, English acronym).

After leaving the European Union last January, the United Kingdom signed free trade agreements with Australia, Japan, Vietnam and Singapore, and hopes to conclude similar agreements with other countries, including the United States, which left the CPTPP during the Republican president’s administration. Donald Trump.

The Trans-Pacific Agreement, which also includes Brunei, Canada, Chile, Malaysia, Mexico and Peru, is one of the largest in the world, accounting for more than 13 percent of global GDP.

According to the British government, the entry of the British economy into the CPTPP will raise the total GDP of all member states to 11 trillion pounds (more than 15.2 trillion dollars).

Ga/nm