UK officially joins Indo-Pacific trade bloc 

Singapore's Minister for Trade and Industry Gan Kim Yong, Vietnam's Minister of Trade and Industry Nguyen Hong Dien and British Secretary of State for Business and Trade Kemi Badenoch are seen together, on the day Britain signs the treaty to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, in Auckland, New Zealand July 16, 2023. (REUTERS)
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Updated 15 December 2024
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UK officially joins Indo-Pacific trade bloc 

  • Officials hope membership will boost Britain’s flagging economy by £2.0 billion a year
  • Created in 2018, alliance has been seen as a bulwark against Chinese dominance

LONDON: Britain on Sunday became the first European nation to join a major Indo-Pacific trading bloc, in what has been hailed as the country’s biggest trade deal since Brexit.

The UK is officially now the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The UK formally signed the accession treaty last year.

Officials hope membership will boost Britain’s flagging economy by as much as £2.0 billion ($2.5 billion) a year.

According to government figures, the value of UK total trade in the 12 months to the end of September was £1.7 trillion.

The alliance comprises fellow G7 members Canada and Japan, plus long-standing allies Australia and New Zealand, alongside Brunei, Chile, Malaysia, Mexico, Peru, Singapore and Vietnam.

Created in 2018, it has been seen as a bulwark against Chinese dominance in the region, although Beijing has applied to join.

The bloc, which accounts for about 15 percent of global gross domestic product (GDP), will give British businesses trade access to a market of more than 500 million people.

The previous Conservative government signed Britain up in July 2023, with then Business and Trade Secretary Kemi Badenoch calling it “the biggest trade deal” since the UK left the European Union.

Britain has secured a number of post-Brexit trade deals, including with Australia, New Zealand and Singapore since it left the EU’s single market at the start of 2021.

It is also pursuing one with Gulf countries, and last month Labour Prime Minister Keir Starmer announced that Britain and India are to resume stalled talks to agree a free trade deal.

A much sought-after trade deal with the United States remains elusive and could become even less likely when Donald Trump enters the White House in January.

A deal with Canada has also failed to materialize.


Kyrgyzstan parliament speaker resigns after spy chief sacking

Updated 13 sec ago
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Kyrgyzstan parliament speaker resigns after spy chief sacking

BISHKEK: Kyrgyzstan’s parliament speaker said Thursday he would step down, two days after President Sadyr Japarov dismissed the Central Asian country’s powerful secret service chief and arrested political figures who called for early elections.
In a surprise move, Japarov had sacked his one-time close ally — spy chief Kamchybek Tashiev — in a decision Bishkek said was meant to “prevent division in society.”
Japarov is seeking re-election next year in a country that was once a regional leader in terms of openness, though marked by political volatility.
Rights groups have accused him of authoritarian tendencies, as he seeks to assert his control and cast himself as a bringer of stability.
Speaker Nurlanbek Turgunbek uulu — close to the sacked security boss — told MPs he would step down, insisting that he was not resigning under pressure.
“Reforms initiated by the president must be carried out. Political stability is indispensable,” he said.
Kyrgyzstan has in recent years been de-facto governed by the Japarov-Tashiev tandem.
Both came to power in the wake of the 2020 revolution — the third since Bishkek gained independence from the Soviet Union in 1991.
Several NGOs have in recent months denounced the deterioration of freedom of expression in Kyrgyzstan.
Japarov had unexpectedly sacked Tashiev and three of his deputies on Tuesday, also weakening the powers of the secret services.
Japarov rarely speaks publicly. His spokesman had said the decision was taken “in the interests of the state, with the aim of preventing divisions within society, including between government structures, and to strengthen unity.”
Tashiev was in Germany for health treatment when the sacking was announced and had said it was a “total surprise” to him.
The decision came the day after the publication of an open letter from 75 political figures and ex-officials calling to bring forward presidential elections — scheduled for January 2027.
Five of those who signed the letter — which criticized the economic situation in the country — were arrested Wednesday on charges of organizing mass riots.