CPTPP: Conclusion of Negotiations

Eleanor Laing Excerpts

Monday 17th April 2023 Commons Chamber

[Kemi Badenoch]

Quite a significant assessment. As I said in my statement, CPTPP is a trade bloc with over 500 million people and a collective GDP worth £9 trillion, but compared with the EU, it is growing faster. In terms of GDP, the partnership is projected to grow faster than the EU, with the countries currently in the CPTPP expected to increase in size by nearly 60% over the next three decades, compared with 42% for the EU.

One thing that I really want to emphasise, because there seems to be some confusion about this in the broader narrative, is that this is not a deal to replace our deal with the EU. We already have a free trade agreement with the EU—we did not leave with no deal—so we will be the only country that has such a comprehensive EU free trade agreement and is a member of CPTPP. That is quite a unique and fantastic position for the UK economy to be in, so I hope that that is something I have been able to clarify for Members across the House.

[Madam Deputy Speaker (Dame Eleanor Laing)]

The prize for patience and perseverance goes to Paul Bristow.

[Paul Bristow (Peterborough) (Con)]

Thank you, Madam Deputy Speaker. I remind the House that I serve as the chair of the all-party parliamentary group on Canada, Australia, New Zealand and the UK. CPTPP will bring the UK into an exclusive global free trade bloc with Canada, Australia and New Zealand, on top of individual trade agreements of varying depth with each country. Free trade co-ordination between Canada, Australia and New Zealand and the UK is one of the three key aims of the CANZUK campaign. Does the Minister agree that this alliance is another step closer to what is, I believe, the desirable outcome of stronger economic, diplomatic and cultural ties between all CANZUK countries?