UK Unlocks Full Access to £13 Trillion CPTPP Market

UK businesses have secured full access to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), opening up new opportunities across an economic bloc worth almost £13tn.

From today, businesses can take advantage of the full benefits of the UK’s CPTPP membership following Canada’s ratification of the UK’s accession. Canada was the final CPTPP member to ratify the UK’s accession, with the country approving the agreement on 3 July 2026. The UK’s accession therefore entered into force today. The new CPTPP now brings together 12 economies: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the UK.

According to IMF World Economic Outlook figures published in April 2026, the combined GDP of the CPTPP members stood at £12.9tn in 2025 with the UK included, compared with £9.8tn before the UK joined. The UK signed the CPTPP in 2023, with its membership initially coming into force in 2024 for the countries that had ratified its accession. The Government says the agreement is expected to add around £2bn a year to the UK economy in the long term, while providing businesses with improved market access and fewer barriers to international trade. More than 99% of the UK’s current goods exports to CPTPP countries will be eligible for zero tariffs, improving market access for British exporters across a range of sectors.

New opportunities in Canada
UK businesses operating in Canada will also benefit from expanded business mobility provisions. Eligible business visitors can now stay in Canada for up to six months, compared with the previous limit of 90 days in any six-month period under the UK-Canada Trade Continuity Agreement. The agreement also gives UK businesses enhanced access to Canadian public procurement markets that were not covered by previous arrangements. This includes opportunities for suppliers of goods and services in sectors such as air transport, accounting and financial services. The Government said the expanded access would allow British companies to compete for a wider range of commercial contracts and expand their international operations. Businesses have already begun benefiting from CPTPP membership. UK agri-tech firm EmTech, for example, has used expanded business mobility provisions to support exports to CPTPP member countries.

Ken Baker, Managing Director, EmTech Hatchery Systems said: “The CPTPP’s business mobility benefits have already benefitted EmTech’s export activity, particularly in Peru and Mexico where we have already exported our innovative technology. We have also exported our products to Canada and are hopeful that the UK’s full accession to the CPTPP will create further opportunities in this market for growth in the future.”

Benefits for exporters and consumers
The Government says the agreement will create opportunities for businesses ranging from food and drink exporters to professional and financial service providers. Consumers could also benefit from increased choice and potentially lower import prices for products such as fruit juices from Chile and Peru and chocolate from Mexico.

The Chancellor also met Canadian Finance Minister François-Philippe Champagne at the G20 Finance Ministers and Central Bank Governors summit in North Carolina, where they welcomed the UK’s accession to the CPTPP. The Government said it would continue working with businesses to help them take advantage of the agreement and support economic growth across the UK. With Canada’s ratification now complete, British businesses have access to the full CPTPP market for the first time, strengthening the UK’s trading links with the fast-growing economies of the Asia-Pacific region.

Minister for Trade Anas Sarwar said: “With full access to the CPTPP, there are now new opportunities for British businesses across some of the world’s fastest-growing markets. Whether it’s selling our world-class food and drink or winning public contracts, we will continue to back British business to succeed across the world, driving growth and creating jobs across the country.”

Chancellor of the Exchequer John Healey said: “We want good growth felt in every postcode, not just measured on a graph. Full access to this trading block opens the door to new customers, contracts and investment for British businesses. We are backing UK firms to take full advantage of these opportunities, so they can boost their exports and help drive growth and well-paid jobs everywhere.”