Introduction to the CPTPP

In conjunction with Harper Adams University, we:

• Modelled the impact on key agricultural sectors to examine the effect on imports, exports and prices
• Presented an overview of current and future trade, production and demand in CPTPP countries
• Determined current opportunities for UK producers
• Examined the potential if CPTPP continues to expand

The CPTPP is a free trade agreement that was first signed in 2018 between 11 countries: Australia, Canada, Japan, Mexico, New Zealand, Singapore, Brunei Darussalam, Chile, Malaysia, Peru and Vietnam. It came into force on 30 December 2018 for the first six, and subsequently for Vietnam and Peru. In December 2024, the UK acceded to the CPTPP. The remaining countries are still completing their ratification processes.

Negotiations for the UK to join the CPTPP started in June 2021 and were agreed in 2024.

Joining the CPTPP expands the number of potential trade partners and increases opportunities for UK exporters.

The most recent UK government data suggested that, in 2020, the 11 CPTPP countries were the destination of 8.4% of UK exports of goods and services combined.

The Government’s International Agreements Committee report includes a summary of the Government's modelling of the economic impact of accession. It said that the estimated long-term increase in UK GDP was 0.08%.