The CPTPP is a free trade agreement (FTA) between Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam. 

Commenting on the UK joining the agreement the Chamber's Director of Policy, Commercial and Governance Katrina Ross said:

“The UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is an important moment for international shipping in the UK.

“The opening up of these new markets and reductions in tariffs will create new opportunities for shipping to facilitate trade that had previously been subject to higher tariffs alongside other trade barriers.” 

The Government will now seek to ratify the agreement, which will include parliamentary scrutiny, whilst other CPTPP countries complete their own legislative processes.