Britain signs deal to join £12 trillion Indo-Pacific Trade Bloc
PUBLISHED SUN, JUL 16 20234:21 AM EDT Matt Clinch
KEY POINTS
- Britain’s Kemi Badenoch, the business and trade secretary, formally signed a treaty confirming accession to the vast Indo-Pacific CPTPP bloc.
- Signed Sunday in New Zealand, the deal will now receive parliamentary scrutiny in the U.K., while other CPTPP nations will also complete their own legislative processes.
Secretary of State for International Trade and President of the Board of Trade, Minister for Women and Equalities Kemi Badenoch leaves 10 Downing Street.
Future Publishing | Future Publishing | Getty Images
LONDON — Britain’s Kemi Badenoch, the business and trade secretary, formally signed a treaty confirming accession to the vast Indo-Pacific CPTPP bloc, the country’s largest post-Brexit trade deal to date.
Signed Sunday in New Zealand, the deal will now receive parliamentary scrutiny in the U.K., while other CPTPP nations will also complete their own legislative processes. More than 99% of the current U.K. goods that are exported to CPTPP countries will soon be eligible for zero tariffs, the U.K. government said.
The 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership includes Canada, Mexico, Japan, Australia, Vietnam, Singapore and Malaysia, among others. The U.K. would be the first European nation to join the bloc, which the government says would unlock trade to a region with a total GDP of £12 trillion ($15.7 trillion).
It remains to be seen how much the deal actually benefits Britain’s growth prospects. Based on the government’s own estimates, the deal will raise long-term domestic GDP by just 0.08%, which will have little impact to offset European trade losses as a result of Brexit. The U.K. officially left the EU on Jan. 31, 2020.
Badenoch said Sunday that Britain was using its status as an independent trading nation to join an “exciting, growing, forward-looking trade bloc.”
″[It] will help grow the U.K. economy and build on the hundreds of thousands of jobs CPTPP-owned businesses already support up and down the country,” she said in a statement. One in every 100 workers in Britain was employed by a business headquartered in a CPTPP nation, according to the government citing 2019 data.
BREXIT was the greatest change to UK politics ever, and Britain has left the EU as determined by Bible Prophecy over 2,500 years ago.
What’s more, Bible Students fully expect to see the UK and the USA come close together with the UK leading the Commonwealth Nations as the KING OF THE SOUTH against the EU and RUSSIA. We will see this develop following BREXIT. Bible Prophecy is very clear on the fact that Britain will be a major global politically leader at the time with Russia and the EU invade the Middle East. Britain will assume this role following BREXIT along with the Commonwealth Countries (and America who is also of British origin) make up the King of the South (along with Israel, Eqypt and the Gulf Arab Nations) at the time of the end that will move to stop Russia and Europe from invading the Middle East.
God has declared the End from the Beginning and the Bible (God’s Word) revealed that Britain would not be part of the EU when Christ Returns to Earth, and World Events have conspired to ensure that has now happened. But we need to keep watching this development as there is much to see yet as Britain takes her place once more on the World Political Stage.
See this Article to learn more about Britian and the Commonwealth Block in Bible Prophecy.
See this article below to learn more about this:
Britain a Trading Nation Again
