MADRID, 31 March (EUROPA PRESS) –

The United Kingdom has joined a bloc of eleven countries that are part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) free trade space, among which are countries such as Japan or Australia, after their exit from the European Union reduced the country’s trade agreements .

According to a statement from the UK Government, negotiations to join CPTPP have been in progress for 21 months, and will allow UK exporters “to new opportunities for jobs, growth and innovation.”

The agreement must be ratified by the British Parliament, which is expected to ratify by the end of this year, and by other member states, including Australia, Brunei, Canada, Chile, Malaysia, Mexico, Japan, New Zealand, Peru, Singapore and Vietnam.

The British government has assured that the agreement will result in 1,800 million pounds (2,046 million euros) in additional benefits over a ten-year period, in addition to predicting that general wages will increase by a total of 800 million pounds (909 million pounds). million euros) compared to 2019.

British Prime Minister Rishi Sunak said joining the CPTPP “places the UK at the center of a growing and dynamic group of Pacific economies”, noting that his country would be the first European nation to join.

“At our hearts, we are an open, free trade nation, and this deal demonstrates the real economic benefits of our ‘post-Brexit’ freedoms,” Sunak added.

The Minister of Commerce, Kemi Badenoch, assured that this was a “significant moment” for the country, in addition to sending a “strong signal that the UK is open for business.”

The CPTPP, which allows for reduced tariffs between member states by up to 95%, was born as a push from the Barack Obama Administration to counteract China’s economic hegemony in the region, but with the subsequent arrival at the White House of Donald Trump, United States. United States The United States withdrew from the negotiating table and the treaty was signed by the other countries.

Recently, South Korea, Taiwan and Thailand expressed interest in joining the free trade area and even China has shown interest in exploring joining the CPTPP.