Britain’s CPTPP progress holds few clues for outcome of Beijing, Taiwan bids, analysts say

Britain moves to final phase of bid to join 11 members in world’s largest trade bloc, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Beijing has been discussing the accession procedure with members of the bloc, but its strained relationship with Australia could get in the way

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The Comprehensive and Progressive Agreement for Trans Pacific Partnership is the world’s largest trading bloc. Photo: Shutterstock

Published: 5:15pm, 21 Feb 2022Updated: 6:31pm, 21 Feb 2022

While Britain is on the cusp of joining the world’s largest trade bloc, it will be a long way before two other major applicants, Beijing and Taiwan, are able to say the same, according to trade experts.

Last Friday, Britain received confirmation from Japan, one of the 11 members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), that it had moved to the final phase of its application to join the free-trade alliance. Under the pact, members Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam would remove 95 per cent of tariffs between them.

In announcing the confirmation, the UK government said that International Trade Secretary Anne-Marie Trevelyan was visiting Indonesia, Japan and Singapore this week for final CPTPP negotiations and to strengthen the UK’s Indo-Pacific ties.

But Chinese University of Hong Kong international trade law professor Bryan Mercurio was among those who said “special cases” Beijing and Taiwan should not necessarily feel buoyed by Britain’s progress. The UK began negotiations in June last year to join the CPTPP while Beijing did so in mid-September, followed by Taiwan six days later. Last Thursday, China’s Ministry of Commerce said it was in the process of negotiating with CPTPP members regarding the procedures to accede to the pact.

“China has been reaching out to, and discussing with, members of the major Pacific Rim trade deal based on the accession procedure of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),” Gao Feng, spokesman for the commerce ministry (Mofcom), said at a weekly press conference on Thursday.

Taiwan’s application to the bloc was also being discussed, the Post reported last week.

Mercurio said the example of Britain “shows the other applicants stand a high chance although I’d say South Korea and possibly even Thailand would join before China and Taiwan although it’s hard to say if Thailand is really serious”.