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Singapore becomes second country to ratify UK membership to CPTPP

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Tue, 23 Jan. 2024

Singapore has formally ratified the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), becoming the second existing member to do so after Japan late last year.

The UK signed up to the vast Indo-Pacific trade group in July 2023, with our accession bolstering the trade bloc’s combined worth to £12 trillion, or 15 percent of global GDP. Under the deal, over 99% of UK goods exports to CPTPP countries will face zero tariffs, including British whisky and cars.

Accession will also upgrade the UK-Singapore bilateral relationship, providing opportunities to deepen participation in each other’s supply chains, diversify trade, grow investment into our economies, and collaborate on shared priorities, all while supporting greater access and opportunities for business.

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