“This is also the seventh trade deal we’ve secured with a member of CPTPP, the grouping of 11 dynamic economies around the Pacific.
“So, it’s another really important stepping stone toward the UK joining CPTPP, and I look forward to making our application to do just that early next year.
“Together we’ll enjoy even more success by seizing this opportunity to take our trade to new heights.
“International trade will help us to overcome the challenges of coronavirus and drive economic growth across our United Kingdom.”
Currently the CPTPP represents 13 percent of global GDP. With the UK on board it could see the GDP increase to 16 percent. This alliance would also see 95 percent of trade tariffs fall.