The United Kingdom trades with all CPTPP partners except Mexico and Canada, according to information from the World Trade Organization (WTO).
In 2023, the United Kingdom signed an agreement to join CPTPP. Nine initial parties to the agreement ratified the accession, and the United Kingdom formally joined on December 15, 2024.
CPTPP partners
Since joining CPTPP, the United Kingdom has been trading under the terms of the treaty with countries that have already ratified its accession. This step expands its access to key markets and strengthens its presence in the Asia-Pacific region.
Before joining, the United Kingdom already had bilateral agreements with nine of the eleven CPTPP nations, except Brunei Darussalam and Malaysia. Following its accession, it will maintain those agreements alongside the multilateral agreement. Where there are overlaps, companies will be able to choose the most convenient trade framework.
The CPTPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. It also plans to add new economies that meet its high standards, reinforcing its role as one of the world’s most dynamic trading blocs.
State-owned enterprises
The United Kingdom has made clear commitments regarding its state-owned enterprises within several regional trade agreements. Under the CPTPP and the treaties with Australia and New Zealand, the obligations regarding “non-commercial assistance” are particularly noteworthy.
These provisions stipulate that any non-commercial support granted to state-owned or state-controlled enterprises must not adversely affect the interests of another party, whether in the production, sale, or provision of services within its territory.
The United Kingdom must also ensure that such assistance does not harm local productive sectors in the countries where its state-owned enterprises operate. Also, the agreements impose transparency rules and require state-owned enterprises and designated monopolies to act on commercial terms and offer non-discriminatory treatment.
The United Kingdom is a highly trade-dependent economy, with exports and imports of goods and services accounting for 62% of GDP in 2024.