The former Treasury official has said the CPTPP will enable Britain to form partnerships with some of the world’s largest economies.<\/p>\n Mr Jessop told Express.co.uk<\/span>: “One of the major benefits of Brexit is the opportunity to lower barriers to trade with faster-growing economies outside the EU.<\/p>\n “This can be done unilaterally, or by signing new deals with individual countries such as Australia, or by joining existing trade agreements like the Asia-Pacific pact.<\/p>\n “All these options will help to boost trade, but the benefits of signing up to the CPTPP could be relatively large, given the number and size of the economies involved.”<\/p>\n <\/strong><\/p>\n The CPTPP is made up of 11-nations which had a combined GDP of £9trillion in 2019.<\/p>\n The UK is in the process of entering the pact and would provide a £1.8billion injection to the UK economy, according to Government estimates.<\/p>\n The trade alliance removes 95 percent of tariffs between its members, Japan, Canada, Australia, Vietnam, New Zealand, Singapore, Mexico, Peru, Brunei, Chile and Malaysia.<\/p>\n International Trade Secretary Anne-Marie Trevelyan, who succeed Liz Truss during the recent Cabinet reshuffle, led the virtual talks this week.<\/p>\n <\/strong><\/p>\n <\/strong><\/p>\n She described the discussions as a “big milestone on our path to joining CPTPP”.<\/p>\n Britain formally applied to join in February, and in June the CPTPP announced the accession process would commence.<\/p>\n Ms Trevelyan said the CPTPP would create “real opportunities for UK exporters” and open the doors to “new, diverse markets”.<\/p>\n The Department for International Trade forecasts the trade pact could mean tariff-free trade for 99.9 percent of exports, including food and cars.<\/p>\n <\/strong><\/p>\n DON’T MISS<\/strong><\/p>\n Chart shows HGV crisis NOT Brexit related amid EU-wide shortages<\/span><\/span> [INSIGHT]<\/strong> Ms Trevelyan said: “This is a big milestone on our path to joining CPTPP, which will allow us to forge stronger links both with old friends and some of the world’s fastest-growing economies.<\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/Boris-Johnson-1499658.jpg?r=1633101812948\")
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Kate is ‘staking her claim’ to the Royal Family with Harry’s absence<\/span><\/span> [VIDEO}<\/strong>
BBC Weather: Europe set for ‘disruptive’ weekend due to thunderstorms<\/span><\/span> [FORECAST]<\/strong><\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/Liz-Truss-3678793.jpg?r=1633101813107\")
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