Britain was set to begin negotiations on Tuesday to join a trans-Pacific trade deal that it sees as crucial to its post-Brexit pivot away from Europe and toward geographically more distant but faster-growing economies.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) removes 95% of tariffs between its members: Japan, Canada, Australia, Vietnam, New Zealand, Singapore, Mexico, Peru, Brunei, Chile and Malaysia.
Britain hopes to carve out a niche for itself in world trade as an exporter of premium consumer goods and professional services. Accession to the pact would supplement trade deals London is seeking, or has already agreed, with larger members.