Here we go! Brexiteer hails £9tn Pacific trade deal – UK to return as major world player

The UK has pushed ahead with a formal application to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). The £9trillion bloc boats some of the world’s fastest developing economies as members. Brexiteer Richard Holden has heaped praise on Liz Truss and her Department for International Trade for representing “Global Britain” in the trade talks which the MP argues has the power to relaunch Britain as a major trading nation following Brexit. 

The Conservative MP told “We have seen Liz Truss the International Trade Secretary ruling pushing on CPTPP which is that big trade agreement around the Pacific rim.

“Which includes really strong allies of ours like Japan, Australia, New Zealand, Canada. Growing countries like Malaysia, Brunei, Thailand looking to come on board with that perhaps.

“Chile, Peru again in those accession talks, Vietnam who have been strongly pushing back against the Chinese dominance of trade in the Indo-Pacific region.

“So I think there are some real opportunities there.”

Mr Holden continued: “We have already done scores of trade agreements around the world some of which are even better than the ones we had with the EU already.

“I think there is a real opportunity there for Britain to reach out into the world and get some of those great agreements as the world pivots.

“This isn’t just about Britain in Europe this is about global trade.

“We have always been a global trading nation and I think without those pressures of being part of the EU and those restrictions that we had as part of the EU we can make the most of. that.”

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He added: “We have got a global language, we have got an absolutely fantastic global hub in the UK in terms of insurance and in financial services, in fact in terms of advance manufacturing.

“You know we are really leading the world in some of these things and I think actually reaching out into the world is a really good way of making the most of that and capitalising on those great opportunities that those growing economies in the world provide us.”

It comes as the UK seems set to announce a new enhanced trade agreement with the British Commonwealth giant Canada.

Britain is Canada’s second-largest services trading partner, with the value of bilateral trade in services amounting to over £10billion.

Ms Truss said earlier this week: “We’re just about to announce that we’ve committed to an enhanced trade agreement with Canada.”

The trade agreement, Ministers say, will slash an estimated £42million tariff burden on UK exports and will eventually lead to zero tariffs on cars, and zero tariffs on beef, fish, chocolate bars and soft drinks.

Ms Truss stressed: “We have an exciting year ahead working with Canada to advance our shared priorities for free and fair trade.”

Officials stressed the Trade Continuity Agreement would help both countries build back better from the COVID-19 pandemic by supporting high-quality jobs in industries such as automotive and food and drink.

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