Prime Minister Chris Hipkins Has Welcomed The United Kingdom Joining One Of The Country’s Largest Trading Blocs

Prime Minister Chris Hipkins has welcomed the United Kingdom joining one of the country’s largest trading blocs, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership or (CPTPP) saying it would further bolster economic opportunities.UK Business and Trade Secretary Kemi Badenoch signed up to the trading bloc making the world’s sixth-largest economy the first new member to join since the bloc was formed, and its first European signatory. The inclusion of the UK means the bloc will cover more than 500 million people and more than 15% of global GDP. Chris Hipkins says by welcoming the UK into the CPTPP we will see tariff savings of more than $330 million on New Zealand exports in its first two years, with many more millions of benefits flowing since then.