‘EU will not stop us!’ May says huge trade deals to come as 11-nation agreement on horizon

Posted on Nov 15 2018 - 11:45am by admin

The Prime Minister addressed a rowdy House Of Commons on Wednesday after news broke a draft Brexit agreement had been reached with the EU. Tory Brexiteers have threatened to reject any deal that would tie Britain to an EU customs zone indefinitely, harming chances for independent trade deals. But Mrs May was adamant that Britain would be clear to negotiate beneficial independent deals with global powers.

She claimed Japan and Australia are among the countries eager to welcome the UK into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trading bloc.

Responding to a question from MP Julia Lopez, Mrs May said: “We will able to still strike those trade deals around the rest of the world.

“I am pleased to say as I said earlier there are number of countries that are not just expressing an interest in that but countries like Japan and Vietnam and Australia are keen that we should talk to them about joining the CPTPP.”

“We specifically looked at our ability, under the proposals we put forward, to strike those trade deals around the world.

“We will have an independent trade policy. We will be able to strike those trade deals around the world”.

The CPTTP – or TPP-11 is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The pact was signed in March, 2018 and covers nearly 500 million people.

Donald Trump’s US administration has pulled out of the agreement.

The President branded the deal a disaster for US workers.

Under the deal, trading tariffs between member countries would be slashed.

It also aligns regulations across member states.

The Peterson Institute for International Economics believes Malaysia, Singapore, Brunei and Vietnam will see their economies boosted by 2 per cent.

New Zealand, Japan, Canada, Mexico, Chile and Australia are expected to see business grow by around 1 per cent.

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