The United Kingdom officially joined the CPTPP, aiming to revitalize its economy post-Brexit with potential earnings of $2.5 billion annually, enhancing global trade opportunities.
The CPTPP, which arose after the U.S. withdrawal from the TPP, lowers trade barriers among its 12 nations, with a focus on economic collaboration and development.
By joining the CPTPP, the UK seeks to pivot towards broader trade relations beyond the EU, emphasizing its strategic aim to establish a robust presence in the Pacific.
CPTPP members, representing 15% of global GDP, serve as a counterbalance against China's economic influence, with both opportunities and dependencies on trade relationships.
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