Britain to Join TPP Sunday as 12th Member

Economy

Tokyo, Dec. 14 (Jiji Press)--The Trans-Pacific Partnership free trade framework, led by countries including Japan and Australia, is set to welcome Britain as its 12th member on Sunday.

It is the first time for the TPP to accept a new member since its entry into force in 2018. Britain is also the first European member of the free trade pact. The other member countries are Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The TPP expansion comes at a time when U.S. President-elect Donald Trump, who decided his country's withdrawal from the TPP framework during his first tenure as U.S. leader, is scheduled to officially return to the White House next month.

In line with Britain's participation, the TPP framework aims to further promote free trade in an effort to counter growing protectionist moves.

The TPP will evolve into a truly global agreement that goes beyond the Asia-Pacific region, British Ambassador to Japan Julia Longbottom said at a press conference in Tokyo on Friday. The trading system based on global rules will only become more important going forward as it faces enormous pressure, she added.

[Copyright The Jiji Press, Ltd.]

Jiji Press