MPs request evidence on benefits of Trans-Pacific trade bloc membership
4 July 2022
The International Trade Committee today launches a new call for evidence on the advantages and disadvantages of UK membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The CPTPP is an 11-member trading bloc comprising Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
Having taken evidence on the process and possible impact of the UK’s accession to the CPTPP, the cross-party Committee of MPs now seeks evidence on the possible opportunities the UK might enjoy, and the challenges it might face, following CPTPP membership.
The Committee calls for stakeholders to submit evidence on the opportunities of CPTPP membership, and how the UK can take advantage of them, including by opening up new or emerging markets to businesses and consumers, and the opportunity to further the UK’s strategic regional objectives.
MPs are also interested in the challenges the UK may face, and how these can be addressed. The Committee welcomes submissions exploring, for example, the impact of China’s possible accession to CPTPP, as well as on the safeguarding of UK standards.
The Committee will also explore the cumulative impact of CPTPP membership on specific sectors of the economy in conjunction with commitments already agreed in the UK’s other new trade agreements.
Commenting on the call for evidence, Angus Brendan MacNeil MP, Chair of the International Trade Committee, said:
"The Government has stated that it expects the UK to accede to the CPTPP by the end of 2022, potentially opening-up a huge market for UK exporters. We welcome evidence submissions from experts and stakeholders on how the Government can make the most of the opportunities offered by CPTPP membership, and how the UK can address any related challenges."