UK Rocks Into Mega Trade Bloc With CPTPP Deal! The UK government has smashed a huge trade deal, joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This game-changing move thrusts Britain into an enormous Indo-Pacific trading powerhouse with a combined GDP of £11 trillion — set to supercharge UK business growth.
Scottish Firms Ready to Cash In
- Over 800 Scottish companies exported £2.1 billion worth of goods to CPTPP countries in 2021 — and that’s just the start.
- Scottish startups, farmers, and exporters now gain fresh access to some of the world’s fastest-growing economies and a booming middle class.
- Big hitters like Scotch whisky stand to benefit massively, with tariffs slashed from up to 80% on exports to nations like Malaysia.
Top Brass Hail Trade Breakthrough
Prime Minister Rishi Sunak: “We are at our heart an open and free-trading nation. This CPTPP deal shows the real economic benefits of our post-Brexit freedoms. The UK is now perfectly placed to grab new jobs, growth, and innovation opportunities.”
“As the first European country to join, British businesses now get unrivalled access to markets stretching from Europe to the South Pacific.”
Business and Trade Secretary Kemi Badenoch: “Joining CPTPP signals the UK is open for business. It will support jobs and open doors for companies of all sizes across the UK. Scottish firms will gain improved access to the Indo-Pacific region, which is tipped to dominate global growth in the coming decades.”
Scottish Secretary Malcolm Offord: “Finalising this deal is fantastic news for Scottish business. CPTPP countries already make up a big slice of our export market. This lifts the red tape from whisky, textiles, and produce – opening fresh markets hungry for Scottish goods.”
Businesses Cheer New Horizons
Anishka Jelicich, Pernod Ricard UK: “CPTPP is a huge opportunity for Scotch whisky. Five of our top 20 export markets are CPTPP members. Tariff cuts and easier access to fast-growing economies will drive exports and secure jobs – with sales doubling in some areas.”
Edinburgh tech firm Cyacomb, specialising in digital forensics software, is poised to boost exports to Canada and expand into Australia and Singapore thanks to CPTPP.
Ian Stevenson, Cyacomb CEO: “CPTPP will cut the red tape and simplify trade with customers in Canada and other markets, freeing us to focus on delivering value and innovation.”
Livingston’s CessCon Decom, experts in offshore oil and gas decommissioning with ties to Brunei, also stands to gain big.
Lee Hanlon, CessCon Decom CEO: “Joining CPTPP opens doors that weren’t available through the EU. It strengthens our relationships in Brunei and unlocks new market possibilities in fast-developing economies.”
UK Eyes Indo-Pacific Growth Jackpot
The CPTPP region is home to 60% of the world’s population and expected to deliver 54% of global economic growth over the coming decades. Half the world’s billion-strong middle-class lives here.
By joining, the UK secures a seat at the table to shape future trade rules in hot sectors like digital, data, and services — cementing its status as a global trading heavyweight.
Formal signing is on track for later in 2023 after final legal checks. The UK’s global trade game just got turbocharged.
