MTI announces UK’s accession process to CPTPP
27 April 2023
On 31 March 2023, a joint ministerial statement on the United Kingdom’s (“UK”) accession process to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”) was released by Singapore’s Ministry of Trade and Industry (“MTI”).
A virtual meeting was held on 31 March 2023 during which ministers and representatives of the members of the CPTPP (Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam) and the UK welcomed the substantial conclusion of the negotiations for the accession of the UK to the CPTPP following the most recent round of talks held in Phu Quoc, Vietnam.
In the statement, it was announced that the Accession Working Group (“AWG”) and the UK confirmed the means by which the UK will comply with the CPTPP’s existing rules. The AWG also confirmed that the UK has provided commercially meaningful market access offers of the highest standard on goods, services, investment, financial services, government procurement, state-owned enterprises, and temporary entry for business people. The CPTPP parties have confirmed or submitted, respectively, their market access commitments to the UK.
The AWG will work with the UK to prepare and verify the legal instrument of accession, aiming at finalising the process in a timely manner consistent with domestic procedures in each member country and the CPTPP Accession Process, to formalise conclusion of the accession process.
The press release is available on the MTI website www.mti.gov.sg.