Membership of the CPTPP would certainly benefit the United Kingdom: several of its main non-EU trading partners are members and accession to the treaty would be easier than negotiating several new agreements with individual countries. 2 Agreement reached on 23 October 2020 in Tokyo between the United Kingdom of Great Britain and Northern Ireland and Japan for a Comprehensive Economic Partnership, CP 311, 2020: www.gov.uk/government/publications/ukjapan-agreement-for-a-comprehensive-economic-partnership-cs-japan-no12020 [called November 3, 2020] 12.One of the key questions of our investigation was how to assess the success of trade negotiations. Prior to the negotiations, the government published its “strategic approach,” including the “contour” objectives, based on a call for contributions launched in 2019. The stakeholders asked us whether these objectives were the right ones and we believe that Parliament must not only compare the latest agreement with the objectives published by the Government, but also ask whether the agreement is objectively good for the United Kingdom and is achieving useful results, whether publicly declared as a government objective. 1.The Subcommittee on International Agreements was established in April 2020 as a subcommittee of the European Union Committee. Its role is to examine “issues related to the negotiation and conclusion of international agreements.” These include, but are not limited to, all treaties under the Constitutional Reform and Governance Act 2010 and trade agreements negotiated by the government after Brexit.1 The EU`s main committee will, however, assume responsibility for the review of any free trade agreement between Britain and the EU under the CRAG. The news that Japan and the UK have in principle reached a trade deal has been heralded by the British government and press as a milestone for the UK`s post-Brexit trade ambitions. Contrary to British exuberance, the Japanese reaction was rather moderate, given that the agreement was generally considered comparable to the EU-Japan agreement and that trade relations between Japan and the United Kingdom ensured continuity. Chan: “The signing of the free trade agreement between Britain and Singapore strengthens and strengthens relations between Singapore and the United Kingdom. The agreement will provide continuity and security to businesses in both countries and send a strong signal to the UK`s commitment to deepen its engagement in the region. 7.The CPTPP is a trade agreement between 11 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
If ratified in all Member States (ratification is underway in Brunei, Chile, Malaysia and Peru), the CPTPP will cover 13.5% of global GDP and 495 million consumers7. It is based on the Trans-Pacific Partnership (TPP) negotiated by the current 11 members and the United States until the withdrawal of the United States in 2017.