Trans Pacific Partnership

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Comprehensive & Progressive Trans Pacific Partnership (CPTPP)

How about a deal in the Pacific - 10,000 miles away - to replace EU?
Critics argue that the TPP Commission, a body composed of representatives from each nation at the level of ministers or senior officials, is in fact akin to a federal government with powers that take precedence over national laws.

The agreement holds 'great promise for boosting investment' "as 99% of UK exports to CPTPP member countries, including products like British whisky and automobiles, will enjoy zero tariffs".

The CPTPP currently consists of 12 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the UK, and Vietnam. Joining this union of 500 million people is estimated by the International Monetary Fund to contribute to 15% of the world’s GDP. The UK government has reported that 1% of its employees work for CPTPP-owned companies

"Exports of Scotch Whisky to the CPTPP countries have grown significantly in the past decade, collectively reaching more than £1.1bn in 2022. The UK’s accession to CPTPP will open up new opportunities for Scotch Whisky and other UK products in key markets in the region, including the phased elimination of Malaysia’s import tariff."
PS UK Government increased tax on whisky by 10% earlier this year.

The economic boost from CPTPP is absolutely marginal – the government’s own statistics put it at 0.08% of GDP. That compares to the 4% of GDP lost every year from leaving the EU single market (Office for Budget Responsibility figure - there is also higher figure nearer 5.5%). The UK already has direct deals with Australia, Canada and Japan in this TPP. The big beneficiaries are finance houses gambling in a new area. We are giving up on environmental and workers standards and reducing tariffs on palm oil - grown under any conditions.The UK can now be sued by multinational companies in special courts if we impose standards they dont like.

Palm Oil

Britain has joined the TPP, where food standards could face similar pressure as those with US. In fact, it could be worse still.

"Currently, Britain restricts palm oil imports because of the serious deforestation the production of such oil often causes, boosting climate change as well as threatening the habitats of animals like orangutans, pygmy elephants and Sumatran rhinos.

Palm oil production can also involve serious exploitation of workers and even children. But Malaysia, a party to the TPP, has already put pressure on Britain to lower its restrictions on palm oil imports and could use the TPP to formally challenge British standards."

Cheap as Chips

Chippies may be rubbing their hands. 'The leading independent centre-right think tank' urges government to drop tariff on palm oil. Which they have!

Malaysia

Malaysia is part of the trade deal. Their meeting with United Kingdom about Palm OIl "ended on a high note as policymakers here have given their commitment to recognise the Malaysian Sustainable Palm Oil (MSPO) certification in the due diligence guidelines for ensuring that commodities entering the country are sustainable...Malaysia has negotiated with the UK to eliminate tariffs on Malaysian palm oil from the current 12 per cent to zero upon entry into the trade pact."

Dep. PM Fadillah said Malaysia will also need to work together with the UK government to introduce a law to prevent negative labelling of products from Malaysia.

"Many very wealthy Conservative MPs and party donors make fortunes via investment (unearned income). EU rules and new tax avoidance regulations limit what they can do to make and hide wealth. Also the EU is an established market. Many Pacific countries are classed as emerging markets, which is where many Conservative MPs and party donors focus their investments. Leaving the EU and joining CPTPP will create many new opportunities for the wealthy Conservative elite to become even richer, while the rest of us including those who keep voting the Tories into office are now destined to become the poorest people in Europe. That is why we have Brexit. " Ralph Early (Ex Prof Harper Adams) on Facebook

CPTPP "The UK’s imminent-ish (March 23) accession to the Asia-Pacific regional CPTPP deal (the Comprehensive and Progressive blah, you know the one) has been a bit of a rough ride. The UK’s concession on palm oil exports to secure a CPTPP deal might create some tricky conversations with British environmental campaigners" Mar 2023 possible breakthrough

If South Korea and Thailand join CPTPP, taking its overall membership to 13, "there will be a 4.97 percent decrease in the value of the semi-processed food sector to the U.K. economy. That would make it by far and away the hardest-hit area under such a scenario, data shows."

Battery bred eggs could be back as UK signs deal 16/07/23 "Ministers are expected to green light the import of battery eggs from countries such as Mexico as part of the new post-Brexit trade agreement. The process was banned in the UK in 2012"

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