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% 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 Sir Keir Starmer announced that Britain and India are to resume stalled talks to agree on a free trade deal.
A much sought-after trade deal with the United States remains elusive and could become even less likely when President-elect Donald Trump enters the White House in January.
A deal with Canada has also failed to materialise.
– Agence France-Presse
