Photo taken on Sept. 18, 2019 shows U.S. dollar banknotes in Washington D.C., the United States. U.S. Federal Reserve on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties stemming from trade tensions and a global economic slowdown, following a rate cut in July that was its first in more a decade. (Xinhua/Liu Jie)
Photo taken on Sept. 18, 2019 shows U.S. dollar banknotes in Washington D.C., the United States. U.S. Federal Reserve on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties stemming from trade tensions and a global economic slowdown, following a rate cut in July that was its first in more a decade. (Xinhua/Liu Jie)

Britain has taken “a major step” in the process of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the British government said Wednesday.

British senior trade officials have “opened discussions” on the potential accession with chief negotiators from all 11 members of the CPTPP, said a statement from the Department for International Trade.

This is the first time Britain has met with chief negotiators from all 11 members of the CPTPP to discuss potential accession, and the first time CPTPP members have had such a discussion with a country seeking membership since the CPTPP was created in 2018, according to the statement.

“The UK held preparatory conversations with all CPTPP members,” said the statement, adding that if Britain decides to apply, it will start a formal accession negotiation with member states.

According to the data revealed by the department, trade between the Britain and CPTPP countries has grown on average by 6 percent every year since 2009 and was worth over 112 billion pounds (about 145.2 billion U.S. dollars) in 2019.

CPTPP members include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.