CPTPP membership will boost British producers and consumers

Commenting on the UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Mark Littlewood, Director General at free market think tank the Institute of Economic Affairs said:

“Joining this trade bloc is a momentous economic and strategic moment. Membership places Britain in a group of nations powering the world’s future prosperity. This partnership serves as an important bulwark of free exchange at a time when protectionism and trade wars are on the rise across the globe.

“Accession opens up markets for British companies by cutting tariffs for exporters like the Scottish whisky industry, slashing red tape for trade in services and enabling greater data flows for digital trade. It also means cheaper imports for British consumers, including fruit from Peru and confectionary from Mexico.

“The benefits to Britain will likely be significantly greater than some official estimates driven by static economic models.”