Britain set to join trans-Pacific trade pact | CBC News

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Britain is set to join a massive trade bloc that will likely speed up negotiations on a bilateral deal between Ottawa and London.

Canada already part of Comprehensive and Progressive Agreement for Trans-Pacific PartnershipThe countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership have given the U.K. a green light to become the 12th country in the trading bloc, and the only one outside the Pacific Rim.

"We share values. We have interoperability in many of our sectors. We essentially have collaborated throughout our history," Ng said., Ng said it has boosted Canadian exports to the bloc by nearly one-fifth, and by as much as 40 per cent in Southeast Asia. In a statement, the British High Commission in Ottawa said joining the bloc "creates opportunities to deepen our trading links across the Asia-Pacific region, providing a range of different opportunities with the different countries.

Trade between Canada and the U.K. was worth more than $41 billion over the 12 months ending last September, according to the High Commission. "We really are doing more work to strengthen our relationships with friends and allies who also share our values, like a rules-based international order, and the U.K. is that friend, is that ally," Ng said."So having the U.K. in the CPTPP strengthens what Canada is doing in the Indo-Pacific."

 

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Shouldda stayed in the union with your closest neighbours, Britain. That 'transportation component' of trade will make things pricier for your subjects than they had under EU. Take it from Canada.

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