UK secures Vietnam backing to join Trans-Pacific trading group, Raab says

[snoop1130]

UK secures Vietnam backing to join Trans-Pacific trading group, Raab says

 

British Foreign Secretary Dominic Raab meets his Vietnamese counterpart Pham Binh Minh at the Government Guesthouse in Hanoi, Vietnam September 30, 2020. REUTERS/Kham

 

LONDON (Reuters) - Foreign Secretary Dominic Raab said on Wednesday Britain had secured Vietnam's public support for it to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

 

"This is a significant step in taking the UK-Vietnam economic relationship to the next level, and demonstrating the UK's commitment and value to the region," Raab said on Twitter.

 

The CPTPP is a free trade agreement that links Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

 

-- © Copyright Reuters 2020-09-30

 

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[fangless]

That will really worry the EU!

[Promula]

Sarcasm?

 

It's a great idea - joining trading groups that don't subsequently try to gain political and legal control over you.

[fangless]

2 minutes ago, Promula said:

Sarcasm?

 

It's a great idea - joining trading groups that don't subsequently try to gain political and legal control over you.

No!

It is so you get control over them!

[Chelseafan]

4 hours ago, Promula said:

Sarcasm?

 

It's a great idea - joining trading groups that don't subsequently try to gain political and legal control over you.

 

We had that, it was called the EEC.

 

[sammieuk1]

14 days quarantine $100k insurance fit to fly wristbands and uncle tom cobley and all ended talks with Thailand I suppose ???? 

[jesimps]

11 hours ago, fangless said:

That will really worry the EU!

Along with the other FTAs the UK will be joining, it should. As long as Johnson holds his nerve, we're well shut of the EU.

[Emdog]

Does this mean trade will have to travel across the Pacific? (You know, "trans Pacific" thingy). Might be shorter to use Suez canal....

Does show some bulbs are lit in UK gov, unlike dear Donald who pulled US out of TPP ASAP. And then whinges about growing Chinese influence....

[Promula]

14 minutes ago, Emdog said:

Does this mean trade will have to travel across the Pacific? (You know, "trans Pacific" thingy). Might be shorter to use Suez canal....

Does show some bulbs are lit in UK gov, unlike dear Donald who pulled US out of TPP ASAP. And then whinges about growing Chinese influence....

Most of the UK's trade is services can travel down wires.

[mfd101]

So in which particular part of the Pacific are the British government aiming to reposition the British isles?

 

While one can often make good arguments in favour of free trade in all directions (The more the merrier), it's not obvious to me that Britain joining the TPP is really a great idea - certainly at this stage - for the other members who are still in the process of ratification. When you're trying to encourage a whole bunch of countries at different stages of development & with very different cultural attitudes towards trade, honest dealing & openness, allowing a large & selfish country like the UK to stagger into the room is not necessarily a positive for anyone, even the Brits.

[Redline]

It doesn’t matter if Thailand joins, there is no discount to consumers.  The government, middlemen and scammers siphon off the savings of the average consumer.  The imported products remain at the same price.  Into the pockets like everything else.