The UK is set to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The CPTPP is a trade agreement between 11 nations: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
More than 99% of UK goods exported to CPTPP countries will now be eligible for zero tariffs, including key UK exports such as cheese, cars, chocolate, machinery, gin and whiskey.
Total UK exports to CPTPP countries were already worth £60.5 billion in the 12 months to September 2022, and are now set to grow.
Everyone can now benefit, which will also assist importers who import their products from these 11 nations would also see their duty rate charged at zero percent.
