Britain looking to join TPP after leaving EU: FT

January 3, 2018

London- Britain has held informal talks about the idea of joining the Trans-Pacific Partnership free trade deal after leaving the European Union, the Financial Times reported Tuesday.

"With these kind of plurilateral relationships, there doesn't have to be any geographical restriction," British trade minister Greg Hands was quoted as saying.

Some TPP signatory countries "welcome" the idea of having another Group of Seven economy as a member, the newspaper said in an electronic edition, adding that British officials floated the idea in meetings with Australia, New Zealand and other TPP countries.

The TPP has 11 members following the withdrawal of the United States last year. The 11 signatories, also including Japan, last November reached a broad accord on a revised TPP deal.

If Britain joins the TPP, it would be the first member outside the Pacific-rim region.

The administration of British Prime Minister Theresa May hopes to conclude free trade agreements with many countries quickly after her country's exit from the EU set for March 2019. The TPP may look attractive to Britain even after the U.S. withdrawal.

But full negotiations on Britain's possible participation in the TPP are unlikely to start until the country concludes its trade talks with the EU, Britain's biggest trade partner.

Media reports have said that Britain would consider joining the North American Free Trade Agreement if its talks with the EU fail. Jiji Press