Govt releases macroeconomic study of joining Trans Pacific Trade deal... based on existing members, it is a relatively modest £1.8bn in 15 year’s time, or 0.09% of GDP...
DIT points to possibility of other nations, say Thailand and the S Korea joining boosting it to 5.5bn/ 0.3%
DIT points to possibility of other nations, say Thailand and the S Korea joining boosting it to 5.5bn/ 0.3%
If US joins TPP, and the US and UK dont do a deal, then the Govt anticipates a £19.7bn boost in total to trade, though that is a forecast of one hypothetical on another one..
gains that are calculated by Govt are modest, arise out of the eradication of many “non tariff measures”
gains that are calculated by Govt are modest, arise out of the eradication of many “non tariff measures”
Two interesting things on above - overwhelming gains of TPP are on trade with Malaysia and Brunei - they are going to take keenest interest here...
Malaysian free trade negotiations with EU stalled nearly a decade ago amid dispute esp re palm oil.
look like restarting now tho.
Malaysian free trade negotiations with EU stalled nearly a decade ago amid dispute esp re palm oil.
look like restarting now tho.
And as, correctly, Govt model identifies main benefit to a trade deal like this, as being the removal of “non tariff measures”/ barriers...
Difficult then, to argue, having introduced the same in post Brexit EU deal, they shd be ignored/ are just paperwork/ don’t actually exist
Difficult then, to argue, having introduced the same in post Brexit EU deal, they shd be ignored/ are just paperwork/ don’t actually exist
Back on Malaysia ... ex PM Mahatir urged the UK to “break with Europe” over EU’s de facto blacklisting of palm oil as a sustainable fuel. As a result of that palm oil use as biofuel in UK virtually eradicated & tariffs apply...could be interesting in context of these negotiations
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