Exporters welcoming reports United Kingdom wants to join Trans-Pacific Partnership

Theresa May Hosts Brexit Cabinet Session At Downing Street

The Financial Times reports ministers have held informal talks on joining the Trans-Pacific Partnership (TPP), which brings together 11 nations across Asia and the Americas and is being renegotiated after the United States withdrew from it previous year.

However, the UK's junior trade minister Greg Hands said there was no geographical restriction that would prevent Britain's participation.

The government is considering joining a free trade area on the Pacific rim that includes Canada, Mexico and Japan once Britain has left the European Union.

It would be the first member of the trade deal, properly called the Comprehensive and Progressive Trans Pacific Paternship, to not border the Pacific Ocean or the South China Sea.

It's understood Britain is looking at options to join the 11-nation agreement, which is in the final stages of negotiation after a bouncing between completed and dead in the water at the APEC Summit in Vietnam in November.

"We don't know what the success of the TPP is going to yet look like, because it isn't yet negotiated", he said.

However, even mention of Britain entering negotiations has been met with scepticism from some trade experts who argue it's unlikely to lead to a deal - and even if it did happen, the United Kingdom would not have much clout.

"With these kinds of plurilateral relationships, there doesn't have to be any geographical restriction", he said.

The U.K. exported just 1.6% of its goods to Japan in 2016, according to data compiled by the Observatory of Economic Complexity-and Japan is the largest economy in the TPP.

In a column for conservative website Conservative Home, the secretary of state for global trade argued that perceptions of Brexit in Britain are at odds with what he is seeing overseas and that it presents a new opportunity for British trade and investment.

Fellow non-euro country Sweden has long seen Britain as one of its closest partners in the union, and concerns have been raised that pressure for Sweden to join will increase when its ally leaves the EU.

Tim Farron, the former Liberal Democrat leader, said: "This plan smacks of desperation".

The next phase will focus on the long-term relationship between Britain and the EU.

He said: "It is not the main event and at the moment the government is making a hash of that". "It's all pie in the sky thinking".

Related News:



Most liked

Judge says English injunction request lacks merit
On Nov. 26, English filed her lawsuit challenging Mulvaney's appointment in the US District Court for the District of Columbia. Mulvaney's appointment undermines the Bureau's independence and threatens its mission to protect American consumers".

Hedge Funds Now Own 20.2% Of Taiwan Semiconductor Manufacturing Company Limited (TSM)
Hence the difference between Predicted EPS and Actual EPS reported is $0.01/share which shows an Earnings Surprise of 1.8 Percent. The investor is now holding $33.91 million shares due in part to a decrease of 561326 new shares in their portfolio.

Alabama playbook stolen before National Championship Game - FOX10 News
Right away everyone assumed this man is a Georgia fan, although the alleged theft didn't seem to have an impact on the field. Channel 2's Tyisha Fernandes contacted University of Alabama officials who said they did not know the bag was stolen.

Minnesota's Reggie Lynch 'categorically denies' sexual misconduct allegations
The university's investigator recommended Lynch be suspended from campus until August 1, 2020, in that matter. The EOAA investigations began in October 2017, around 18 months after the alleged incidents occurred.

NHL: Wild defeat Blackhawks on Suter's goal
Nick Schmaltz , playing in his 100th National Hockey League game, was credited with a secondary assist. Crawford's undisclosed upper-body injury likely would have prevented him from playing, anyway.

Lookout for Price Target? Constellation Brands, Inc. (STZ), WPX Energy, Inc. (WPX)
This company shares are 10.44% off its target price of $239.47 and the current market capitalization stands at $43.54B. The insider Newlands William A sold $616,644. (NASDAQ:EBAY) on Thursday, September 7. $5.45M worth of Stamps.com Inc.

How to Watch Atletico Madrid vs. Lleida Esportiu
Atletico has conceded only once in its last six matches in all competitions. Vitolo's maiden goal came after a flawless long pass by Fernando Torres .

Turkey summons United States diplomat over Syria Kurd militia
Turkey entered the war in Syria on the U.S.'s side, but has grown increasingly distant over US support for Kurdish militants. Turkish President Tayyip Erdogan speaks during a meeting at the Presidential Palace in Ankara, Turkey, January 10, 2018.

Solo: A Star Wars Story Gets Minor Name Tweak for Foreign Markets
The Hollywood Reporter's Borys Kit said Bale was up for the part of Solo's mentor, which ultimately went to Woody Harrelson . He said he still hasn't seen Ben Affleck as Batman . "People seem surprised at that, I don't know why".

Dana White: UFC Will Move On With Or Without Conor McGregor
It is highly unlikely to materialise but that did not stop the Irishman from trying to goad "Money" Mayweather into a fight. To watch the clip containing some of the biggest fights we've shown you, just hit play at the top of the article .

Education without skill is troublesome to land jobs: PM Modi
India has taken leaps and bounds in past few years and PM Modi has undoubtedly been the torch bearer of it. The Prime Minister observed that some people say that today's youth does not have "Dhairya" or patience.

LG is adding Google Assistant into their 2018 TVs
The TV industry surely doesn't need another acronym, but in 2018 it will get at least one more: HFR, short for "high frame rate". But beyond that they will also act as a smart hub for the home meaning you'll be able to control smart home gadgets, too.

Worth Watching Stock Occidental Petroleum Corporation (OXY)
To measure price-variation, we found OXY's volatility during a week at 1.27% and during a month it has been found around 1.09%. According to their observations and findings, the stock could provide a high EPS of $0.75/share and a low EPS of $0.21/share.

Many Oregonians Not Happy About Pumping Their Own Gas
An additional three counties will allow self-service gas pumps between 6 p.m. and 6 a.m. "It's staying the way it is", she said. A new law means people in some counties will have to learn how to do something many Oregonians might not even know how to do.

Next gets surprise Christmas gift as online sales boost profit hopes
Where profit falls within this range will depend on Next's sales this month (January). Next shares dived in October when it warned of "extremely volatile" trading .