Businesses set to benefit as UK concludes tax agreement with Peru and ratifies deal to join major Indo-Pacific trade bloc

Trade Minister Greg Hands visits Peru as UK ratifies deal to join CPTPP and concludes tax treaty

The UK has, earlier than expected, completed its key step required for joining CPTPP, Minister for Trade Policy Greg Hands will tell fellow members of the group during a meeting in Arequipa, Peru.

Joining CPTPP – which will account for 15% of global GDP with the UK included – means over 99% of current UK goods exports to CPTPP members will be eligible for tariff-free trade. Encompassing 500 million consumers in some of the world’s largest current and future economies, the potential for increased trade is huge.