Prospects For Trans-Pacific Investment Boosted

On 2 June 2021, four months after the UK's formal application, it was announced the UK can start the process of joining the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership ("CPTPP").

Accounting for 500 million people and making up 13% of the world's GDP, the CPTPP brings together member nations, including Japan, Canada, Australia, Singapore and Mexico, to focus on improving market access, and pledging to eliminate 95% of import charges or tariffs.

With UK trade within the group worth £111 billion in 2019, the announcement is undoubtedly good news for the UK, but what does it mean for UK real estate investment and the prospects of international trade as we step tentatively out of the pandemic and into a post-Brexit future?