From Tuesday 1 September, UK businesses have full access to the £13 trillion CPTPP trading bloc.
British firms can now enjoy the full benefits of the UK's membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The UK signed the CPTPP in 2023, and it came into force in 2024 with the first countries to ratify.
Canada is the last country to ratify the UK's accession, so from today (1 September) businesses can trade with all 11 CPTPP members, whose economies are worth almost £10 trillion in 2025.
The deal is expected to add about £2 billion a year to the UK economy over the long term.
This marks a major step for British businesses, offering more export opportunities worldwide through better market access and fewer trade barriers.
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."
UK businesses in Canada will get easier travel under CPTPP, with eligible business visitors allowed to stay up to six months, up from the previous 90 days in any six-month period.
The Chancellor also met Canadian Finance Minister François-Philippe Champagne at the G20 Finance Ministers and Central Bank Governors summit in North Carolina, USA, where they welcomed the UK's accession.
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."
The agreement gives businesses in both countries better access to each other's public procurement markets, which were not covered by earlier deals.
This opens new doors for UK suppliers of goods and services, expanding access in areas like air transport, accounting, and financial services.
With a wider range of commercial opportunities, businesses can expand and grow, showcasing UK talent and driving growth in every postcode.
Some businesses are already benefiting from CPTPP. Agri-tech firm EmTech has used expanded business mobility to export its products to 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."
